Another Cannabis Company Opts For Reorganization, Here's What Investors Need To Know
Portfolio Pulse from Jelena Martinovic
Unrivaled Brands, Inc. (OTCQB:UNRV) plans to reorganize under a new Delaware holding company, Blum Holdings, Inc. The reorganization will exchange each outstanding share of Unrivaled’s common stock and Series V preferred stock on a one-for-one basis for a share of Blüm. Unrivaled stockholders will also be asked to approve a reverse stock split of the company’s common stock at a ratio determined by the board of directors of Unrivaled in the range between a 1-for-70 to 1-for-100. The reorganization is expected to be completed in Q4 2023.
October 11, 2023 | 12:52 pm
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Unrivaled Brands plans to reorganize under a new holding company, Blum Holdings, and implement a reverse stock split. This could potentially affect the company's stock price.
The reorganization and potential reverse stock split could lead to changes in the company's stock price. However, the exact impact will depend on various factors, including the approval of the reorganization by Unrivaled’s stockholders and the final ratio of the reverse stock split.
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