By Dean Seal
CV Sciences has agreed to acquire fellow CBD products maker Extract Labs for $1 million in newly issued common stock and $400,000 in cash.
The San Diego-based company said Thursday that the acquisition should grow its sales and client base.
Under the terms of the deal, the sellers of Extract Labs are eligible to receive up to $600,000 in additional CV Sciences stock if certain revenue targets are satisfied in the next two years.
The acquisition is expected to close in the first quarter.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
November 21, 2024 16:58 ET (21:58 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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