Sabas D. Carrillo - 31 Dec 2024 Form 5 Insider Report for BLUM HOLDINGS, INC. (BLMH)

Role: Chief Executive Officer, Director, 10%+ Owner
Signature: /s/ Sabas Carrillo
Issuer symbol: BLMH
Transactions as of: 31 Dec 2024
Net transactions value: +$6,164,914
Form type: 5
Filing time: 14 Feb 2025, 19:15:26 UTC
Previous filing: 18 Dec 2024
Next filing: 21 May 2025
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BLMH	Common Stock	Other	$6,164,914	+3,808,559	+339%	$1.62	4,932,154	31 Dec 2024	By Adnant, LLC	F1, F2, F3
holding	BLMH	Common Stock						87,787	31 Dec 2024	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	BLMH	Series V Preferred Stock	Other		0	0%		3,571,429	30 Dec 2024	Common Stock	1,190,476		By Adnant, LLC	F4, F5, F6
transaction	BLMH	Warrants to Purchase Common Stock	Disposed to Issuer	$0	-178,571	-100%	$0.000000	0	30 Dec 2024	Common Stock	0	$2.80	By Adnant, LLC	F7
transaction	BLMH	Warrants to Purchase Common Stock	Award	$0	+595,238		$0.000000	595,238	30 Dec 2024	Common Stock	595,238	$0.4600	By Adnant, LLC	F7

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Conversion of outstanding debt in the amount of $6,165,050 owed by the Company to Adnant, LLC into shares of common stock.
F2	Conversion price of $1.61874 per share.
F3	Reporting Person is the sole member of Adnant, LLC.
F4	Not applicable. See footnote 5.
F5	Reporting Person holds 3,571,429 shares of Series V Preferred Stock ("Series V Stock") and is reporting herein a change in the conversion ratio of such stock to common stock only. Effective December 30, 2024, Issuer amended the certificate of designation of its Series V Stock pursuant to which each share of Series V Stock (a) became convertible into 1/3 of a share of common stock, (b) will automatically be converted to common stock on the fourth anniversary of the date of issuance, and (c) prior to such anniversary, the holder is entitled to convert shares of Series V Stock upon written notice. Issuer and Reporting Person entered into an amendment to the Series V Stock purchase agreement in connection therewith.
F6	See footnote 5.
F7	These two warrants transactions involved an amendment of outstanding warrants to purchase common stock, resulting in the cancellation of the old warrant and the grant of a replacement warrant.