Charlotte's Web converts $65M convertible debenture to shares and raises $10M from British American Tobacco.

Charlotte's Web Holdings has completed a transaction with British American Tobacco (BAT) converting a $65 million convertible debenture into common shares at C$0.94 per share and raising an additional $10 million through a private placement. This strengthens Charlotte's Web's balance sheet and supports its participation in a Medicare pilot program for CBD products. The transaction awaits final approval from the Toronto Stock Exchange. The company aims to use the funds to expand access to its hemp-based wellness products and enhance long-term shareholder value.