Arizona CBD Biz Nabs $50M In Funding From NY Hedge Fund
Law360 (October 9, 2019, 6:31 PM EDT) -- Integrated CBD, a Scottsdale, Arizona-based supplier of cannabidiol products, said Wednesday that it has received $50 million via a mixture of equity and debt investment from an undisclosed New York-based hedge fund.
The Series A equity round sees an unnamed New York hedge fund providing $50 million to Integrated CBD using a combination of debt and equity financing, according to a statement. Though the identity of the hedge fund was not disclosed, the press release did note that it manages about $7.4 billion in assets.
Integrated CBD operates roughly 10,000 acres of hemp-producing land in the U.S. and sells cannabidiol, or...
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