Ascend Wellness Holdings, Inc.

Ascend Wellness Holdings, Inc. held a special meeting where stockholders approved an amendment to the Certificate of Incorporation to effect a reverse stock split. The split ratio will be between 1-for-10 and 1-for-50, to be determined by the Board of Directors. The split must occur before the Class A Common Shares are listed on a national securities exchange or within one year of the meeting, whichever is earlier. Stockholders also approved an adjournment proposal, though it was not needed as the reverse stock split was approved.

Ascend Wellness Holdings reported a net loss of $9.8 million for Q2 2026, a significant improvement from $24.4 million in Q2 2025, despite a slight revenue decrease to $126.1 million. For the six months, net loss was $39.3 million on revenue of $243.1 million. The company continued its expansion strategy with new acquisitions, including Northeast Partnership Dispensaries Seven and Eight for $3.6 million and Midwest Partnership Two Dispensaries for $22.3 million. Cash and cash equivalents stood at $67.0 million as of June 30, 2026.

Ascend Wellness Holdings, Inc. will hold a special meeting on August 28, 2026, for stockholders to approve a reverse stock split of its Class A Common Shares. The proposed ratio ranges from 1-for-10 to 1-for-50, with the final decision at the Board's discretion. The primary goal is to increase the share price to meet minimum bid requirements for a potential up-listing to the NYSE American or Nasdaq, aiming to broaden the investor base and increase analyst interest.

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.