Multistate cannabis company Ascend Wellness Holdings, Inc. (AWH) on Monday announced a reverse stock split vote as part of their uplisting plan to a major U.S. stock exchange.
In a statement, Sam Brill, CEO and director of AWH, said the move “is a necessary step” for a U.S. exchange uplisting.
“We believe an uplisting could expand what’s possible for our business by increasing our access to capital, broadening our investor base, and unlocking opportunities that have long been out of reach for cannabis operators. With the regulatory landscape shifting in real time, we are taking these steps now to move decisively as those doors open.” — Brill in a press release
According to the company, the AHW board of directors believes the reverse stock split could position the company’s Class A common shares to satisfy initial listing requirements for a national securities exchange, including applicable minimum bid price requirements, while potentially supporting institutional investor participation and enhancing visibility with analysts and broker-dealers; however, the company indicated the move does not assure listing to major exchange.
The special meeting will be held on Aug. 28, 2026, and if the split is approved, it would allow the board to implement it at a ratio of between 1-for-10 and