SplitOct 29, 2026, 04:17 PM
MariMed Stockholders Approve Reverse Stock Split
AI Summary
MariMed Inc. announced that its stockholders approved a proposed reverse stock split at a special meeting. The Board of Directors has the authority to set the split ratio between 1-for-50 and 1-for-100 and can choose to abandon the split. Stockholder approval was overwhelmingly in favor of both the reverse stock split and the adjournment proposal.
Key Highlights
- MariMed Inc. stockholders approved a reverse stock split proposal at a special meeting held on October 28, 2026.
- The Board of Directors is authorized to determine the reverse stock split ratio, ranging from 1-for-50 to 1-for-100.
- The Board retains the discretion to abandon the reverse stock split if it determines it is not in the best interests of the Company and its stockholders.
- The Amendment Proposal received 219,026,236 FOR votes, 46,400,304 AGAINST votes, and 221,869 ABSTAIN votes.
- The Adjournment Proposal received 222,642,573 FOR votes, 39,820,076 AGAINST votes, and 3,185,760 ABSTAIN votes.
- No fractional shares will be issued; stockholders entitled to fractional shares will receive cash payment in lieu thereof.
Price Impact
More from MRMD