FSD Pharma Provides Update On Proposed Dividend Distribution For Shareholders Of FSD Pharma To Receive Shares Of Celly Nutrition On A One For One Basis
Portfolio Pulse from Benzinga Newsdesk
FSD Pharma Inc. (NASDAQ:HUGE) has announced plans to distribute shares of Celly Nutrition Corp. to its shareholders on a one-for-one basis. The record date for the special dividend will be announced in the coming weeks. FSD Pharma shareholders will also be entitled to a 7% royalty on all future gross revenue Celly derives from sales of products using the Company's technology. The special meeting of the FSD Pharma Securityholders to vote on the Arrangement is scheduled to be held on November 20, 2023.
November 07, 2023 | 4:47 pm
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POSITIVE IMPACT
FSD Pharma's decision to distribute shares of Celly Nutrition Corp. to its shareholders could potentially increase the value of FSD Pharma's shares. The 7% royalty on future Celly revenue could also provide a steady income stream for FSD Pharma shareholders.
The distribution of Celly Nutrition Corp. shares to FSD Pharma shareholders could increase the value of FSD Pharma's shares as shareholders will now own shares in two companies. Additionally, the 7% royalty on future Celly revenue could provide a steady income stream for FSD Pharma shareholders, which could make FSD Pharma's shares more attractive to investors.
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