Neptune Wellness Solutions Inc (NEPT)

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Reverse split Source: PR Newswire (US)
LAVAL, QC, Sept. 7, 2023 /PRNewswire/ - Neptune Wellness Solutions Inc. ("Neptune" or the "Company") (NASDAQ: NEPT), a consumer-packaged goods company focused on plant-based, sustainable and purpose-driven lifestyle brands, announced today, further to its news release on August 22, 2023, the completion of the Company's proposed consolidation of its common shares (the "Common Shares") on the basis of one (1) post-consolidation Common Share for every forty (40) pre-consolidation Common Shares (the "Consolidation").

Neptune Wellness logo (CNW Group/Neptune Wellness Solutions Inc.)

It is anticipated that the post-Consolidation Common Shares will commence trading on the NASDAQ at the market open on or about September 8, 2023. The Company's name and trading symbol remain unchanged on the NASDAQ as a consequence of the Consolidation. The new CUSIP and ISIN numbers for the consolidated Common Shares are 64079L303 and CA64079L3039, respectively.

The Consolidation will reduce the number of Common Shares issued and outstanding from approximately 24.1 million Common Shares to approximately 0.6 million Common Shares. Each fractional Common Share remaining after completion of the Consolidation that is less than one (1) whole of a Common Share will be increased to one (1) whole Common Share.