Ascend Wellness Holdings, Inc.

Ascend Wellness Holdings, Inc. announced that its Board of Directors amended and restated the company's bylaws, effective June 24, 2026. The amendment reduces the requisite quorum for all stockholder meetings from a majority to one-third of the company's voting power of stock issued and outstanding and entitled to vote.

Ascend Wellness Holdings reported Q1 2026 financial results, with net revenue of $116.9 million and Adjusted EBITDA of $26.3 million. The company's net loss improved to $29.5 million from $48.7 million sequentially, and Adjusted Gross Profit Margin increased to 46.1%. Operational highlights include the addition of five new dispensaries, strong brand performance with Ozone's evolution and High Wired ranking #1 in infused flower, and a positive outlook on cannabis rescheduling benefits. The company also announced a temporary suspension of operations at its Lansing, Michigan facility due to a fire incident, but does not anticipate a material impact.

Ascend Wellness Holdings, Inc. completed the automatic conversion of all 65,000 outstanding shares of Class B common stock into Class A common stock on May 4, 2026. Following this, the company filed a Certificate of Retirement, reducing the total authorized common stock by 65,000 shares to 750,035,000, and Class B authorized shares to 35,000. Additionally, at its Annual Meeting on April 29, 2026, stockholders elected six directors, ratified WithumSmith+Brown, PC as the independent auditor, and reapproved the stock incentive plan.