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EX-99.1 - PRESS RELEASE - cbdMD, Inc. | levb_ex991.htm |
8-K - CURRENT REPORT - cbdMD, Inc. | levb_8k.htm |
Exhibit 99.2
Level Brands, Inc. Announces Pricing of $6 Million Public
Offering
CHARLOTTE, NC -- September 28, 2018 -- Level Brands, Inc. (NYSE
American: LEVB) (the “Company”), an innovative marketing and licensing company that
provides bold, unconventional, and socially responsible branding
for leading businesses, today announced the pricing of an
underwritten public offering of 1,714,286 shares of common stock at
a public offering price of $3.50 per share. The estimated
gross proceeds to the Company are expected to be approximately
$6,000,000 prior to
deducting underwriting discounts, commissions and other estimated
offering expenses. The Company intends to use the net
proceeds from the offering for brand
development and expansion, acquisitions and general working
capital.
The
Company has granted the representative a 45-day option to purchase
up to 257,142 additional shares of common stock to cover
over-allotments, if any. The offering is expected to close on
Tuesday, October 2, 2018, subject to satisfaction of customary
closing conditions.
ThinkEquity,
a division of Fordham
Financial Management, Inc., is acting as sole book-running manager
for the offering.
The
Securities and Exchange Commission ("SEC") declared effective a
registration statement on Form S-1 relating to these securities on
September 28, 2018, which includes a preliminary prospectus
relating to the offering. A final prospectus will be filed with the
SEC. The offering is being made only by means of a prospectus.
Copies of the prospectus relating to the offering may be obtained,
when available, by contacting ThinkEquity, 17 State Street,
22nd
Floor, New York, NY 10004, telephone (646) 968-9355, email:
prospectus@think-equity.com. Investors may also obtain these
documents at no cost by visiting the SEC's website
at http://www.sec.gov.
This
press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of the securities described
herein, nor shall there be any sale of these securities in any
state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About Level Brands, Inc. (www.LevelBrands.com)
Level Brands is an innovative marketing and licensing company that
provides bold, unconventional, and socially responsible branding
for leading businesses. The focus of LEVB is licensing and
corporate brand management for consumer products, including art,
beauty, fashion, the beverage space, health and wellness, and
entertainment. License brand marketing is at the core of the Level
Brands businesses: kathy
ireland® Health &
Wellness; Ireland Men One (I’M1), a men’s lifestyle
brand established to capitalize on potentially lucrative licensing
and co-branding opportunities with brands focused on millennials;
Encore Endeavor One (EE1), a provider of corporate brand-management
services and producer of experiential entertainment events and
products across multiple platforms.
Forward-Looking Statements
This press release contains certain forward-looking statements that
are based upon current expectations and involve certain risks and
uncertainties within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995. Such forward-looking statements can
be identified by the use of words such as ''should,'' ''may,''
''intends,'' ''anticipates,'' ''believes,'' ''estimates,''
''projects,'' ''forecasts,'' ''expects,'' ''plans,'' and
''proposes'' and include the statement regarding the intended use
of proceeds. These forward-looking statements are not guarantees of
future performance and are subject to risks, uncertainties, and
other factors, some of which are beyond our control and difficult
to predict and could cause actual results to differ materially from
those expressed or forecasted in the forward-looking statements,
including, without limitation, our material dependence on
our relationship with kathy
ireland® Worldwide, our limited operating history, our
ability to expand our business and significantly increase our
revenues and our ability to report profitable operations in future
periods, among others. You are urged
to carefully review and consider any cautionary statements and
other disclosures, including the statements made under the heading
"Risk Factors" in Level Brands, Inc.'s Annual Report on Form 10-K
for the fiscal year ended September 30, 2017 as filed with the
Securities and Exchange Commission (the "SEC") on December 26, 2017
and our other filings with the SEC. All forward-looking
statements involve significant risks and uncertainties that could
cause actual results to differ materially from those in the
forward-looking statements, many of which are generally outside the
control of Level Brands and are difficult to predict.
Level Brands, Inc. does not undertake
any duty to update any forward-looking statements except as may be
required by law.
Contact:
Mark S.
Elliott
Chief
Financial Officer and Chief Operating Officer
Level
Brands, Inc.
(704)
362-6345