SplitJun 1, 2026, 07:21 AM
Verano Announces 1-for-5 Reverse Stock Split for U.S. Listing
AI Summary
Verano Holdings Corp. announced a 1-for-5 reverse stock split of its common stock, effective on or about June 11, 2026. This strategic move is intended to prepare the company for a prospective U.S. stock exchange listing and enhance institutional investor interest. As a result, the total outstanding shares will decrease from approximately 364.38 million to 72.88 million, and authorized shares will be reduced from 5 billion to 1 billion. Stockholders who would otherwise receive fractional shares will be compensated with a cash payment.
Key Highlights
- Verano Holdings Corp. announced a 1-for-5 reverse stock split of its common stock.
- The reverse stock split is scheduled to become effective on or about June 11, 2026.
- Outstanding common stock will be reduced from 364,381,806 to 72,876,361 shares.
- The number of authorized shares of common stock will be reduced from 5,000,000,000 to 1,000,000,000.
- Stockholders entitled to fractional shares will receive a cash payment based on fair market value.
- The split aims to prepare the company for a prospective U.S. stock exchange listing and increase institutional investor interest.
- All outstanding equity awards under the Stock and Incentive Plan will be proportionately adjusted.
Price Impact
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