Tilray Brands said it will carry out a 1-for-10 reverse stock split effective December 1, with shares to begin trading on a split-adjusted basis on December 2 under the same ticker.
The move, previously approved by shareholders in June, will cut the number of outstanding shares to about 116 million from 1.16 billion.
Tilray said the split is intended to align its share count with peers, broaden institutional appeal and reduce annual meeting-related costs.
