Blum Holdings SEC Filings

BlueLine Holdings, Inc. director Jim Miller received 191,327 shares of common stock as equity compensation. The Form 4 shows that on December 31, 2025, Miller was awarded these shares at an implied price of $0.98 per share for his service on the company’s board.

After this grant, he directly holds 191,327 common shares. The transaction is coded as an acquisition and reflects stock-based compensation rather than an open-market purchase.

BioLife Holdings, Inc. reported a director stock award. Director Bradley Laurence Hirsch received 64,082 shares of common stock on December 31, 2025, as compensation for his service on the board. The implied price was $0.98 per share, and he now beneficially owns 64,082 shares directly.

Blum Holdings director Matthew Barron received 194,183 shares of common stock as compensation for board service at an implied price of $0.98 per share. The shares were issued on December 31, 2025 and are held directly, bringing his beneficial ownership to 194,183 shares.

The filing also notes that Matthew Barron resigned from the Board of Directors and from the Audit Committee effective November 17, 2025, and that his resignation was not due to any disagreement with the company’s operations, policies, or practices.

BlueLinx Holdings, Inc. Chief Financial Officer Patty Chan received common stock as compensation. On December 31, 2025, Chan was issued 30,612 shares of common stock at an implied price of $0.98 per share, in lieu of $30,000 of consulting compensation. After this transaction, she beneficially owned 30,612 shares directly.

BLMH Holdings, Inc. reported that it issued 2,551,020 shares of common stock to Adnant, LLC, a related party managed by CEO Sabas Carrillo, as a performance-based equity award at an implied price of $0.98 per share. Following this award, Adnant indirectly holds 11,496,094 common shares, while Carrillo also directly holds 92,389 common shares. Adnant additionally holds 3,571,429 shares of Series V Preferred Stock, which are convertible into common stock under set terms, and 595,238 warrants to purchase common stock.

Blum Holdings, Inc. reported several year-end capital structure moves involving a related investor and its strategic advisor. On December 31, 2025, the company converted $3,050,000 of principal and accrued interest on unsecured promissory notes into 3,248,547 shares of common stock at a fixed price of $0.98 per share, cancelling the applicable notes in full.

Blum also issued a new $525,000 senior secured promissory note to the same investor, maturing December 31, 2027, bearing 8.0% annual interest and convertible at a price based on a $20,900,000 pre-money valuation, equal to $0.98 per share on a fully diluted basis. In connection with this note, warrants to purchase up to 198,114 shares at $0.53 per share were cancelled. The board ratified a performance-based equity award to related-party advisor Adnant, LLC, under which 2,551,020 shares of common stock will be issued at an implied $0.98 per share. All equity issuances were made as unregistered offerings relying on Section 4(a)(2) exemptions.

Blum Holdings, Inc. insider Douglas Rosenberg reported his beneficial ownership of derivative securities as of 12/05/2025. Rosenberg, identified as a director of BLUM HOLDINGS, INC. (BLMH), holds multiple warrants to purchase the company’s common stock with different exercise and expiration dates.

The reported positions include warrants to purchase common stock at exercise prices of $0.17, $0.35, and $0.53 per share, each with specific expiration dates ranging from 12/30/2027 to 12/05/2028. The filing explains that the warrants are exercisable at any time for the underlying registered common stock and, if the underlying shares are unregistered, they may be exercised on a cashless basis at the holder’s election until they are automatically exercised on a cashless basis at expiration.

Blum Holdings, Inc. disclosed that it has closed the acquisition of all outstanding equity of a cannabis retail dispensary located in the Bay Area. This means the company now fully owns that dispensary business. The update was shared through a press release dated December 18, 2025, which is included as an exhibit to the report and incorporated by reference for more detail.

The information is furnished under a Regulation FD disclosure item, so it is intended to provide equal access to this operational update without being treated as filed financial information under securities laws.

Blum Holdings, Inc. entered into a series of unsecured promissory notes with a related accredited investor between December 1 and December 5, 2025, for principal amounts of $200,000, $200,000, $500,000, $100,000, and $500,000. The notes mature between late 2027 dates, bear 8.0% annual interest payable monthly starting March 31, 2026, and may be prepaid at any time without penalty.

Each note is convertible at the lender’s election into a convertible promissory note that provides for automatic conversion into Blüm capital stock at a price equal to 85% of a $20,900,000 pre-money valuation, or $0.98 per share on a fully diluted basis. In connection with these financings, the company issued common stock purchase warrants with an exercise price of $0.35 per share for up to 228,571, 228,571, 571,429, 114,286, and 571,429 shares, respectively, generally exercisable until various dates in December 2028 and automatically exercised on a cashless basis at expiration if the underlying shares remain unregistered.