Tilray Executes Major Share Consolidation Amid Shifting Institutional Landscape

Tilray Brands, Inc. is undertaking a significant corporate action today, fundamentally altering its capital structure. The cannabis company is implementing a 1-for-10 reverse stock split, effective after market close. This move will drastically reduce the total number of outstanding shares from approximately 1.16 billion to about 116 million. While the stock will begin trading tomorrow under a new CUSIP identifier (88688T209), it will retain its familiar Nasdaq ticker symbol, TLRY.

The share price, recently around $0.81, will adjust proportionally to approximately $8.10. Company leadership anticipates this consolidation will generate annual administrative cost savings of up to $1 million and aims to enhance the stock’s appeal to a broader base of institutional investors.

Recent Read more...