Verano Approves 1-for-5 Reverse Stock Split Ahead of Potential U.S. Exchange Listing
- Verano Holdings Corp. approved a 1-for-5 reverse stock split, consolidating every five shares into one, effective around June 11, to prepare for a potential listing on a major U.S. stock exchange.
- The reverse split aims to reduce the total number of outstanding shares from approximately 364.4 million to about 72.9 million, while increasing the stock price per share.
- The company will not issue fractional shares; instead, stockholders entitled to fractions will receive cash payments based on the adjusted closing price before the split.
- Verano operates in 13 states with 162 dispensaries and 14 cultivation/processing facilities, recently redomiciled from British Columbia to Nevada to position for future U.S. growth and capital market opportunities.
Verano Holdings Corp. has approved a 1-for-5 reverse stock split as the multistate marijuana operator prepares for a potential listing on a major U.S. stock exchange.
The company announced today that its board of directors approved the reverse stock split, which is expected to take effect on or around June 11. Under the plan, every five existing shares of Verano common stock will be consolidated into one share.
Verano said the move is intended to advance the company’s path toward listing its common stock on a major U.S. exchange. The company also said the reverse split is expected to reduce its total number of outstanding shares while increasing the price per share.
“The Reverse Stock Split marks another significant step forward for Verano and our future and builds on a series of strategic initiatives we’ve executed to position Verano ahead of growth and U.S. capital markets opportunities,” said George Archos, Verano founder and chief executive officer.
Archos said the decision comes “on the heels of the historic medical cannabis rescheduling announcement” and in anticipation of possible future federal reforms.
The company currently has 364,381,806 shares of common stock outstanding. Assuming no additional shares are issued before the split takes effect, that total will be reduced to approximately 72,876,361 shares.
Verano said it will not issue fractional shares as part of the reverse split. Stockholders who would otherwise receive a fractional share will instead receive a cash payment based on the closing sale price of the company’s common stock on Cboe Canada, adjusted for the reverse split, on the trading day before the effective date.
Following the split, Verano expects its stock to continue trading on Cboe Canada and OTCQX under the symbol VRNO.
The announcement follows Verano’s redomiciling from British Columbia, Canada, to Nevada in November 2025, another step the company said was intended to position it for future growth and U.S. capital markets opportunities.
Verano operates in 13 states, with 162 dispensaries and 14 cultivation and processing facilities totaling more than 1.1 million square feet of cultivation capacity.