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British American Tobacco p.l.c. reports company developments through its ADR and foreign-issuer disclosures, with news centered on its global tobacco and nicotine portfolio. Recurring topics include cigarette brands such as Dunhill, Kent, Pall Mall, Lucky Strike and Rothmans, U.S. brand interests including Camel, Natural American Spirit and Newport, and next-generation products such as Vuse in vapour, glo in heated tobacco and Velo in modern oral tobacco.
Company updates also cover regulatory matters affecting nicotine and tobacco products, governance and annual meeting activity, share and capital actions, management changes, and strategic investments or partnerships involving adjacent categories such as botanical drug development.
Charlotte's Web (BTI) reported Q4 2025 and full-year results and disclosed a material strategic transaction with British American Tobacco (BAT) and participation in the CMMI Medicare pilot.
Highlights: FY revenue $49.9M, FY gross profit $21.7M (43.5%), Q4 revenue $13.3M, Q4 net loss $11.5M. BAT transaction would convert C$75.3M debenture, add US$10M equity, and leave BAT with ~40% ownership pending approvals.
Charlotte's Web (OTCQB: CWBHF / TSX: CWEB) announced a transaction with BAT (British American Tobacco) to convert C$75.3M principal plus C$14.2M accrued interest into equity at C$0.94 and for BAT to invest an additional US$10M via private placement.
The deal issues ~110M shares to BAT, eliminates ~US$65M debt, stops future interest accrual, and would leave BAT with ~40.8% ownership subject to shareholder and TSX approvals.
Organigram (NASDAQ:OGI / TSX:OGI) announced a C$65.2 million private placement with BAT (NYSE:BTI) to help fund its acquisition of Sanity Group. BAT will subscribe for 14,027,074 shares at C$3.00 and exercise top-up rights for 9,897,356 shares at C$2.335854.
Proceeds, plus restricted cash and up to $60 million credit facilities, will fund the cash portion of the acquisition and working capital. Issuances may include non-voting preferred shares to keep BAT below a 30% voting threshold; conversion mechanics cap beneficial ownership at 49%.
Charlotte's Web reported financial results for the first quarter of 2024, showing a decrease in revenue compared to the same period in 2023. The company is focusing on its 'True North' initiatives to enhance the consumer experience, expand product offerings, and improve cost efficiencies. Despite revenue challenges in the CBD industry, the company remains optimistic about its future growth.
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Charlotte's Web Holdings has formed a Joint Venture (JV) with AJNA BioSciences, funded by a $10 million investment from British American Tobacco (BAT), which acquires a 20% stake. Each party, including Charlotte's Web and AJNA, holds 40% voting rights. The JV aims to develop a novel botanical drug targeting neurological conditions and plans to file an Investigational New Drug (IND) application with the FDA in 2023. Dr. Orrin Devinsky will lead the clinical strategy and development. This collaboration allows Charlotte's Web to leverage its proprietary hemp genetics and clinical data for drug development, aiming to offer alternatives to current neurological treatments.
Charlotte's Web Holdings reported a significant 28% reduction in 12-month operating expenses and a net cash position of $67 million as of December 31, 2022. The company experienced a 23.8% year-over-year decline in fourth-quarter revenue to $18.9 million, primarily due to lower retail and online sales. Despite lower revenue, operating loss improved to $32 million from $118 million in Q4 2021. The company secured a $56.8 million investment from British American Tobacco and became the Official CBD of Major League Baseball. The firm is focusing on international expansion, regulatory engagement, and new product launches.
Charlotte's Web Holdings (CWBHF) announced a US$56.8 million investment from a subsidiary of BAT (BTI) through a convertible debenture. This investment allows for a 19.9% non-controlling equity stake in Charlotte's Web and is aimed at funding growth initiatives and enhancing R&D capabilities. The additional capital will boost Charlotte's Web's pro-forma cash to approximately US$65 million. The terms include a 5% annual interest rate, reducing to 1.5% under certain conditions, and allows BAT to nominate board members while holding a significant stake.