SCHEDULE: Crosnoe Group Discloses 4.9% Stake in cbdMD

Clark R. Crosnoe and affiliated entities have filed an amended Schedule 13G, reporting a collective beneficial ownership of 4.9% of cbdMD, INC.'s common shares.

Summary

• Clark R. Crosnoe, along with CRC Investment Fund LP, NM 2018 Trust, and AMC Legacy Trust, collectively beneficially own 436,150 common shares of cbdMD, INC.
• This aggregate ownership represents 4.9% of the company's outstanding common shares.
• The percentage of class is based on 8,919,410 outstanding common shares as of November 6, 2025.
• Clark R. Crosnoe is identified as having shared voting and dispositive power over all 436,150 shares through his roles with the affiliated entities.
• The filing is an Amendment No. 1 to a Schedule 13G, indicating an update to previously reported beneficial ownership.

Sentiment

Score: 6

Explanation: The filing indicates continued significant, albeit slightly below 5%, beneficial ownership by a key individual and his affiliated entities. While not explicitly positive or negative, maintaining a substantial stake suggests ongoing interest. The 'Amendment No. 1' and the 4.9% figure could imply a reduction from a previous higher stake, which would be a slight negative, but without the prior filing, it's neutral to slightly positive that a large investor is still involved.

Positives

• Continued significant ownership by Clark R. Crosnoe and affiliated entities, indicating ongoing investor interest in cbdMD.
• The filing confirms a substantial, albeit below 5%, stake held by a single influential individual and his related trusts/funds.

Negatives

• The aggregate beneficial ownership of 4.9% is below the 5% threshold, which could imply a reduction in stake from a previous filing (as it is an amendment), though the filing itself does not explicitly state a decrease. A reduction in stake by a significant investor could be perceived negatively.

Future Outlook

NA

Industry Context

cbdMD operates in the CBD and wellness product industry, which is subject to evolving regulatory landscapes and consumer trends. Significant investor holdings, even below 5%, can signal confidence or strategic positioning within this dynamic sector.

Related Party Transactions

• Clark R. Crosnoe's control over CRC Investment Fund LP, NM 2018 Trust, and AMC Legacy Trust means these entities are related parties in terms of beneficial ownership reporting.

Stakeholder Impact

• Shareholders may view the continued significant, though below 5%, stake by Clark R. Crosnoe as a sign of ongoing investor confidence.

Key Dates

Keywords

cbdMD, CBD, beneficial ownership, Schedule 13G, Clark R. Crosnoe, institutional investor, common shares, equity stake, SEC filing, investment fund