false 0001134765 0001134765 2025-04-16 2025-04-16

 

 

FORM 8-K

 

 

Date of report (Date of earliest event reported):  April 16, 2025

 

Commission File Number:  001-32420

 

Charlie's Holdings, Inc.
(Exact name of registrant as specified in its charter.)

 

 

1007 Brioso Drive,Costa Mesa,California92627
(Address of principal executive offices)

 

949-203-3500
(Registrant's Telephone number)

 

Not Applicable
(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2)

 

Emerging growth company ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

Securities registered pursuant to Section 12(b) of the Act: None

 

 

 

See Item 2.01 below, which is incorporated herein by reference.

 

 

On April 16, 2025, Charlie's Holdings, Inc. (the "Company") entered into and closed an Asset Purchase Agreement (the “Agreement”) with R. J. Reynolds Vapor Company (the “Buyer”) pursuant to which the Buyer purchased twelve of the Company’s PACHA synthetic products and related assets (the “Assets”) that are covered by a premarket tobacco application (“PMTA”) first submitted by the Company in 2022. The purchase price for the Assets was $5.0 million paid at closing, plus a contingent one-time payment of up to $4.2 million based on product sold by the Buyer during the one year following the first day of commercialization of the Assets. The Agreement contains customary representations, warranties, and indemnities by each of the parties.

 

The foregoing description of the Agreement does not purport to be complete, and is qualified in its entirety by reference to the full text of the form of Agreement, which is attached to this Current Report on Form 8-K as Exhibit 10.1 and incorporated by reference herein.

 

Item 9.01(d)         Financial Statements and Exhibits.

 

 

 

 

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.