Verano Holdings Announces 1-for-5 Reverse Stock Split to Prepare for U.S. Exchange Listing
Key Points from the Report
- Verano Holdings Corp. (Cboe CA: VRNO, OTCQX: VRNO) has announced a 1-for-5 reverse stock split of its common stock, set to take effect on or about June 11, 2026.
- The reverse stock split is a strategic move to position Verano for a potential listing on a major U.S. stock exchange.
- The split follows Verano’s recent redomiciling from British Columbia, Canada, to Nevada, U.S., completed in November 2025.
- Verano’s operations span 13 U.S. states, with 162 dispensaries, 14 cultivation and processing facilities, and over 1.1 million square feet of cultivation capacity.
- Current outstanding shares of common stock: 364,381,806. After the reverse split, this will reduce to approximately 72,876,361 shares.
- Fractional shares will not be issued; instead, shareholders will receive cash payments for fractional shares based on the closing sale price adjusted for the split.
- All outstanding stock options, restricted stock units, and convertible securities will be proportionately adjusted.
- Odyssey Trust Company will act as the exchange agent for the split.
- The stock will continue to trade under the symbol “VRNO” on Cboe Canada and OTCQX post-split.
Details for Investors and Shareholders
The reverse stock split is a significant event with potential implications for shareholders and the company’s future valuation. By consolidating shares at a ratio of 1 post-split share for every 5 pre-split shares, Verano aims to increase its share price per unit and improve its eligibility for listing on a major U.S. exchange—a move generally seen as positive for attracting institutional investors and expanding access to U.S. capital markets.
Shareholders should note:
- Effective Date: The reverse stock split is expected to take effect on or about June 11, 2026. Shareholders holding through brokerage accounts should direct any questions to their brokers. Stockholders of record may contact Odyssey Trust Company.
- Fractional Shares: No fractional shares will be issued. If the split results in a fractional share, shareholders will receive a cash payment equivalent to the value of the fractional share, calculated using the closing sale price before the split.
- Adjusted Securities: Options, restricted stock units, and other convertible securities will be adjusted in line with the new share ratio.
- Potential Share Price Impact: The reduction of outstanding shares and increase in price per share may enhance institutional interest and improve liquidity, especially given Verano’s move towards U.S. exchange listing.
- Strategic Context: This move follows Verano’s U.S. redomiciling and comes shortly after the historic medical cannabis rescheduling announcement. It is part of a broader strategy to capitalize on anticipated regulatory reforms and growth opportunities in U.S. cannabis markets.
Company Overview
Verano Holdings Corp. is one of the leading U.S. cannabis companies by revenue, geographic scope, and brand performance. It operates in 13 states, with a vertically integrated model featuring dispensaries under the Zen Leaf™ and MÜV™ banners. Verano’s product portfolio includes brands like Savvy™, Essence™, Swift Lifts™, HYPHEN™, Encore™, BITS™, Avexia™, MÜV™, CTPharma™, and Verano™.
The company has 14 production facilities with more than 1.1 million square feet of cultivation capacity, positioning it for continued expansion and market leadership in both medical and adult-use cannabis sectors.
Contact Information
- Investors: Aaron Miles, Chief Investment Officer ([email protected])
- Media: Steve Mazeika, VP Communications ([email protected])
Forward-Looking Statements Disclaimer
This article contains forward-looking statements that reflect Verano Holdings Corp.’s current beliefs about future events and objectives, including those relating to the reverse stock split and potential U.S. exchange listing. These statements are subject to risks, uncertainties, and other factors that may cause actual outcomes to differ materially. Investors should review risk factors described in Verano’s annual report and other filings with the SEC. Verano does not undertake to update any forward-looking statements except as required by law.
This article is for informational purposes only and does not constitute investment advice. Readers should conduct their own due diligence and consult with financial advisors before making investment decisions.
