Verano Holding Corps. (VRNO) announced that its Board of Directors has approved a 1-for-5 reverse stock split of its common stock, expected to take effect on or about June 11, 2026.
The reverse split builds on Verano's prior strategic initiatives, including the company's redomiciling from British Columbia, Canada, to Nevada in November 2025, as it positions for future growth and potential listing on a major U.S. stock exchange.
Verano operates across 13 states, with 162 dispensaries and 14 cultivation and processing facilities totalling more than 1.1 million square feet of cultivation capacity. Management believes the reverse split will reduce the number of outstanding shares, increase the price per share, and potentially broaden institutional investor interest as the company pursues uplisting.
George Archos, Verano founder and CEO, commented: "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. On the heels of the historic medical cannabis rescheduling announcement and in anticipation of prospective reforms that may follow in the near future, the reverse stock split is a prudent strategic measure that prepares the Company for listing on a major U.S. exchange, which we believe is in the best interests of our employees and stockholders."
The company confirmed that fractional shares will not be issued. Stockholders entitled to fractional shares will instead receive a cash payment based on the closing sales price of Verano's common stock on Cboe Canada, adjusted for the reverse split, on the trading day preceding the effective date.
VRNO has traded between $0.46 and $1.95 over the past year. The stock closed May 29, 2026, at $1.18, down 0.84%.
For comments and feedback contact: editorial@rttnews.com
Business News
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.