Ascend Wellness Holdings Urges Stockholder Vote on Reverse Split

Ascend Wellness Holdings is pushing for shareholder support ahead of an August 28 special meeting, where investors will decide on a proposed reverse stock split. The company aims to consolidate its Class A common stock at a ratio between 1-for-10 and 1-for-50 to facilitate a potential national exchange listing.

Corp and Tech·August 10, 2026·reads: 938

The board of directors has unanimously recommended that stockholders vote in favor of the measure, citing the move as a strategic step toward securing a listing on a major U.S. securities exchange. However, leadership cautioned that there is no guarantee the split will result in a sustained increase in share price or that the exchange application will be successful. Because the proposal requires the approval of a majority of all outstanding shares, the company is emphasizing that every unvoted share or abstention acts as a vote against the initiative.

CEO Sam Brill urged investors to participate regardless of their plans to attend the virtual meeting. Proxies must be submitted by 11:00 a.m. Eastern Time on August 26, 2026. Stockholders of record as of July 7 are eligible to vote, and those holding shares through intermediaries should follow the specific instructions provided by their brokers or banks. Full details regarding the proposals are available in the definitive proxy statement filed with the SEC and on SEDAR+.