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MariMed stockholders approve proposed reverse split of up to 1-for-100, leaving ratio and timing to board
MRMDMarimed Inc.
MariMed Inc. stockholders approved a proposal at its October 28 special meeting authorizing the board to effect a reverse stock split with a ratio between one-for-fifty and one-for-one hundred. The board retains sole discretion to determine whether to implement the split, select the exact ratio based on market conditions or potential U.S. exchange listing requirements, and set an effective date. Fractional shares would be cashed out rather than issued. MariMed is a multi-state cannabis operator focused on cultivation, production, and retail.