CBD manufacturer snags $5 million from private equity firm

A New York-based company that makes hemp-derived CBD supplements, drinks and cosmetics has secured $5 million from a European private equity firm in a cash-for-stock deal.

Emerald Organic Products, which makes CBD products under the Pura Vida Vitamins label, on Tuesday announced the deal with Bedrock Group Holdings, a private equity firm with offices in London, Geneva and Monaco.

The investment firm gets $5 million worth of preferred stock and the right to convert it to common stock at $1.60 a share.

A statement from Bedrock said additional funding is possible in the future.

Emerald Organic – Bedrock’s first investment in the hemp sector – said it will use the money to accelerate retail expansion and possibly acquire more CBD brands.

The company trades on the U.S. over-the-counter markets as EMOR.

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