Recent Updates — MRMD

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.

MariMed Inc. filed a definitive proxy statement to seek stockholder approval for a proposed reverse stock split at its Special Meeting scheduled for October 28, 2026. The Board has authorized the implementation of a split with a ratio between one-for-fifty and one-for-one-hundred, pending final determination based on market conditions and exchange listing requirements. This corporate action aims to increase the common stock's price to satisfy minimum bid price rules for a potential listing on a U.S. national securities exchange, thereby broadening access to institutional investors and capital markets. Fractional shares resulting from the split would be cashed out rather than issued. MariMed Inc. is a leading multi-state cannabis operator focused on cultivation, production, and retail.

MariMed Inc. reported financial results for the second quarter ended June 30, 2026, announcing record quarterly revenue of $41.9 million, a 6% increase from the prior year period. For the six-month period, total revenue reached $81.4 million. The company posted a GAAP net loss of $3.6 million for the quarter and $7.3 million for the first half of the year, compared to non-GAAP adjusted EBITDA of $3.9 million and $7.5 million respectively. Management highlighted sequential revenue growth in both wholesale and retail segments, with retail transactions increasing 7% and branded product distribution expanding to 85% of available storefronts. MariMed operates as a multi-state cannabis cultivator, processor, and retailer.