KAC Investments LLC acquired Herbal Brands, Inc. from Clever Leaves Holdings Inc. (NasdaqCM:CLVR) for $8 million on March 21, 2024. The Sale Transaction was completed for a purchase price of $8.02 million, including $7.02 million in cash paid on the Closing Date, and the issuance of a senior secured promissory note and security agreement by Buyer in favor of the Seller in the original principal amount of $1.00 million (the ?Note and Security Agreement?), which accrues interest at seven and one-half percent (7.50%) per annum, and for which interest is payable quarterly, in cash, until the March 21, 2025 maturity date.

KAC Investments LLC completed the acquisition of Herbal Brands, Inc. from Clever Leaves Holdings Inc. (NasdaqCM:CLVR) on March 21, 2024.