Glass House Brands is set to ring the Closing Bell at the New York Stock Exchange (NYSE) today, marking another major milestone for the California-based marijuana company following its uplisting to the exchange earlier this summer.
The company announced the ceremony Friday morning, saying Co-Founder, Chairman and Chief Executive Officer Kyle Kazan is reflecting on the significance of the event and the company’s growth leading up to it.
“Ten years in the making, this moment marks an important chapter in our growth,” Glass House Brands said.
Glass House’s subordinate voting shares began trading on the NYSE under the ticker symbol GLAS on June 30 after receiving approval from the exchange. Trading of the shares on the OTCQX Market ended following the June 29 session.
The uplisting followed a restructuring in which Glass House separated its California dual-use retail dispensary operations from its cultivation, manufacturing and other operations. In regulatory filings, the company said the transaction helped facilitate its move to the NYSE.
When the uplisting was announced in June, Kazan said the move represented an important milestone for both Glass House and the broader marijuana industry. The company also said the listing became possible following the federal reclassification of medical marijuana to Schedule III.
Glass House is focused primarily on the California market, with large-scale cultivation operations along with manufacturing and branded marijuana products.
The ceremony comes just 10 days after fellow marijuana company Trulieve Cannabis Corp. rang the NYSE Closing Bell on August 18. Trulieve CEO Kim Rivers led that ceremony in celebration of the company becoming the first U.S. cannabis company to list on the NYSE.
Glass House’s Closing Bell ceremony is scheduled for the end of today’s regular trading session.
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