Ascend Wellness Holdings, Inc., a vertically integrated multi-state cannabis operator focused on bettering lives through cannabis, has announced it’s received authorization from the Company’s Board of Directors to commence a share buyback program.
Pursuant to a normal course issuer bid (“NCIB”) commencing on January 2, 2025, the Company may repurchase up to the lesser of: (i) 10,215,690 shares of the Company’s class A common stock (“Common Shares”), representing approximately 5.0% of AWH’s outstanding Common Shares; and (ii) US$2.25 million worth of Common Shares, in the open market. As of December 24, 2024, there were a total of 204,313,808 issued and outstanding Common Shares.
“With the initiation of this share buyback program, we are taking another meaningful step to continue to create shareholder value,” said Sam Brill, Chief Executive Officer. “Our prior share repurchase, together with the recent open market purchases by members of our board of directors, demonstrate our strong confidence in our strategy and our commitment to driving returns for our investors. With our strong foundation and the impact of our ongoing initiatives, we are excited about the opportunities the new year will bring.”
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