FSD Pharma Announces Distribution Date As November 29, 2023 For Distribution Of Celly Shares Pursuant To Plan Of Arrangement
Portfolio Pulse from Benzinga Newsdesk
FSD Pharma Inc. announced the distribution date for Celly Nutrition Corp. shares to its securityholders as part of a plan of arrangement. The distribution date is set for November 29, 2023, with a record date of November 28, 2023, and an ex-dividend date of November 27, 2023. Eligible holders of FSD Pharma shares and certain warrants will receive one Celly Nu Share for each share or warrant held. Approximately 45.7 million Celly Nu Shares will be distributed, with FSD Pharma retaining about 154.3 million shares. The arrangement will be voted on at a special meeting on November 20, 2023, and requires final court approval on November 24, 2023.
November 17, 2023 | 1:05 pm
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FSD Pharma Inc. is distributing Celly Nu Shares to its securityholders, which could potentially increase shareholder value and interest in the stock. The distribution is scheduled for November 29, 2023, with a record date of November 28, 2023.
The distribution of Celly Nu Shares to FSD Pharma securityholders is likely to be viewed positively by the market as it adds value to the holdings of current investors. The anticipation of receiving additional shares could lead to increased buying pressure on FSD Pharma's stock in the short term. However, the actual impact will depend on the perceived value of Celly Nutrition Corp. and the market's reaction to the distribution.
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