[PRESS RELEASE] – NORWOOD, Mass., Oct. 29, 2026 – MariMed Inc., a leading multistate cannabis operator focused on improving lives every day, announced that the company’s stockholders approved a proposed reverse stock split of the company’s common stock at a special meeting held Oct. 28, 2026.
“I want to thank our shareholders for their overwhelming support in approving the reverse stock split proposal and authorizing our board to determine whether and when to implement it,” MariMed CEO Jon Levine said.
There can be no assurance that the board will determine to implement the reverse stock split, that MariMed will be eligible for listing on a U.S. national securities exchange, that the reverse stock split will enable the company to satisfy all applicable listing requirements, or that the reverse stock split will result in a sustained increase in the trading price or liquidity of the company’s common stock.
Reverse Stock Split Details
The company’s stockholders approved the following:
- The board is authorized to determine whether and when to implement the reverse stock split at a ratio of between 1 for 50 and 1 for 100, in its discretion. The board would determine the final ratio based on market conditions and other relevant considerations, including, potentially, the requirements associated with a potential listing of the company’s common stock on a U.S. national securities exchange.
- The board retains the discretion not to implement the reverse stock split if it determines that doing so would not be in the best interests of the company and its stockholders.
- No fractional shares would be issued in connection with the reverse stock split. Stockholders who would otherwise be entitled to receive a fractional share as a result of the reverse stock split will instead receive a cash payment in lieu thereof.
If the reverse stock split is implemented:
- The number of shares of MariMed common stock outstanding would be reduced by the applicable split ratio. The reverse stock split would not, by itself, change a stockholder’s proportional ownership or voting power in the company, except for any adjustments resulting from the treatment of fractional shares.
