Ascend Wellness Holdings (AAWH.U) Proposes Reverse Stock Split to Facilitate U.S. Exchange Uplisting

Ascend Wellness Holdings Advances Toward U.S. Exchange Listing

Ascend Wellness Holdings (AWH), a multi-state cannabis operator, has taken a pivotal step toward its goal of listing on a major U.S. exchange. The company filed a definitive proxy statement with the U.S. Securities and Exchange Commission (SEC) proposing a reverse stock split to satisfy the minimum bid price and other initial listing requirements of a national securities exchange.

This reverse stock split is a key component of AWH’s strategy to broaden its investor reach and enhance capital-raising opportunities. The company believes that uplisting could unlock growth potential and increase visibility within the cannabis sector. Nonetheless, AWH notes that there is no guarantee the uplisting will succeed or that it will lead to a sustained rise in its share price.

Proposed Reverse Stock Split Details

If approved, the reverse stock split would empower AWH’s Board of Directors to execute a stock consolidation at a ratio ranging from 1-for-10 up to 1-for-50. The precise ratio will be finalized in conjunction with the company’s application to list its Class A Common Shares on a national securities exchange. The board also retains discretion to cancel the reverse split if deemed unnecessary.

This corporate action will not impact the total value of shareholders’ investments, as the reduction in outstanding shares will be offset by a proportional increase in share price. The company has confirmed that fractional shares will not be issued; any fractions will be rounded up to the nearest whole share. The board’s authority to carry out the reverse split will expire one year after the Special Meeting or upon successful listing, whichever occurs first.

Special Meeting of Stockholders Scheduled for August 28, 2026

AWH has scheduled a virtual Special Meeting of Stockholders on August 28, 2026, at 11:00 a.m. Eastern Time. Stockholders of record as of July 7, 2026, will be eligible to vote on the reverse stock split proposal. A quorum will require at least one-third of the voting power of the Class A Common Shares.

Besides the reverse stock split, stockholders will vote on an adjournment proposal, which would allow the meeting to be postponed if there are insufficient votes to approve the split. The board unanimously recommends that shareholders vote in favor of both proposals.

Voting Information and Shareholder Guidance

Shareholders are urged to review the proxy statement thoroughly, as it contains critical details regarding the proposals. Approval of the reverse stock split requires a majority vote of the outstanding Class A Common Shares entitled to vote. Votes marked as "ABSTAIN" will be counted as votes "AGAINST" the proposal.

Proxies must be submitted by 11:00 a.m. Eastern Time on August 26, 2026. Shareholders may also vote online during the Special Meeting, which will revoke any previously submitted proxies. Detailed voting instructions are provided in the proxy statement, and shareholders holding shares through intermediaries should follow the voting procedures outlined by those entities.

About Ascend Wellness Holdings, Inc.

Ascend Wellness Holdings, Inc. is a vertically integrated cannabis company operating across multiple U.S. states, including Illinois, Maryland, Massachusetts, Michigan, New Jersey, Ohio, and Pennsylvania. The company manages advanced cultivation facilities and offers a curated portfolio of cannabis products for retail and wholesale under various brand names.

AWH’s business model centers on producing and distributing its proprietary brands such as Ozone, Simply Herb, High Wired, Honor Roll, Royale, and Effin'. The company aims to leverage its operational strengths to expand market share and capitalize on the growing cannabis industry.

Benefits and Risks Associated with the Reverse Stock Split

The reverse stock split is primarily intended to meet the listing prerequisites of a national securities exchange, potentially increasing the company’s market visibility and attracting institutional investors. By consolidating shares, AWH seeks to elevate its stock price, making it more appealing to a wider investor base.

However, this corporate action carries risks. There is no assurance that the reverse split will result in a sustained share price increase or that the company will successfully uplist to a U.S. exchange. Investors should carefully assess these risks when considering the potential effects of the reverse stock split.

Regulatory and Forward-Looking Considerations

AWH highlights the importance of regulatory compliance in its forward-looking statements, acknowledging that various risks and uncertainties, including regulatory changes in the cannabis sector, could materially affect its ability to achieve strategic goals.

The company’s forward-looking statements are based on current expectations and projections, which may not prove accurate. Investors should review the risk factors detailed in AWH’s filings with the SEC and Canadian securities regulators.

Investor Next Steps

Investors should monitor the outcome of the August 28 Special Meeting and subsequent board decisions regarding the reverse stock split. Successfully meeting national exchange listing requirements will be critical to AWH’s future growth trajectory.

As the cannabis market evolves, AWH’s strategic initiatives, including the proposed uplisting, will play a key role in positioning the company for long-term success. Staying informed about regulatory changes and market dynamics will be essential for investors tracking AWH’s performance.