BUZZ-Tilray Brands falls on reverse stock split plan

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BUZZ-Tilray Brands falls on reverse stock split plan

Reuters2025-04-17

BUZZ-Tilray Brands falls on reverse stock split plan

** Shares of cannabis firm Tilray Brands TLRY.O down 6% at 45 cents premarket

** Co says it will hold a special meeting on June 10 in order to implement a reverse stock split of its common stock at a ratio ranging between 1-to-10 and 1-to-20

** Says the exact ratio within the range will be determined by the Board of Directors, without reducing the authorized number of shares of its common stock

** "Looking ahead, we expect this decision to aid in the Company’s efforts to stabilize trading levels, attract and retain institutional shareholders, and decrease our cost structure by over $1 million on an annual run rate basis" says CEO Irwin Simon

** Up to last close, shares down 64.2% YTD

(Reporting by Tanay Dhumal in Bengaluru)

((Tanay.Dhumal@thomsonreuters.com; Twitter: https://twitter.com/TanayDhumal))

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