SplitJun 11, 2026, 06:11 AM
Verano Holdings Completes 1-for-5 Reverse Stock Split
AI Summary
Verano Holdings Corp. announced the completion of its 1-for-5 reverse stock split, effective June 11, 2026. This action also reduced the number of authorized shares from 5 billion to 1 billion. The company stated that fractional shares will be paid in cash and that adjustments have been made to stock options and RSUs. The reverse split is intended to position the company for future growth and potential U.S. stock exchange listing.
Key Highlights
- Verano Holdings Corp. completed a 1-for-5 reverse stock split, effective June 11, 2026.
- The number of authorized shares of common stock was reduced from 5,000,000,000 to 1,000,000,000.
- Following the split, approximately 73,918,135 shares of common stock are issued, down from 367,690,781.
- Fractional shares will be settled in cash, based on the closing price on the day before the effective date.
- Stock options and RSUs were adjusted, with underlying shares rounded down to the nearest full share.
- The stock will trade under the temporary OTCQX symbol 'VRNOD' for 20 business days.
Price Impact
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