VERANO HOLDINGS (SUB.VT.)

Verano views a federal reform (in particular easing of Section 280E) and market expansions in Florida, Virginia and Texas as potential drivers for significant growth. The company cites a possible tax benefit of more than USD 80 million, reported third-quarter revenue growth of 6% year-on-year, and emphasizes organic growth over large acquisitions. Risks remain uneven state enforcement, a cash-heavy business model and uncertain tax provisions; refinancing the USD 195 million loan could reduce interest costs by more than 300 basis points. » More on de.investing.com

Verano Holdings is effecting a 1-for-5 reverse split that becomes effective at 12:01 a.m. PT on June 11 and will resume trading on a split‑adjusted basis at the market open. Outstanding shares are expected to be reduced from 365,077,512 to approximately 73,015,502, subject to any prior issuances. Fractional shares will not be issued; affected shareholders will receive a cash payment based on the closing price immediately before the effective time. Outstanding options, RSUs and convertible instruments will be adjusted proportionally; shareholders’ percentage voting power will remain unchanged. » More on de.investing.com

Verano’s board approved a share buyback program of up to $20 million, permitting the purchase of up to 18,219,090 common shares (5% of outstanding shares) within 12 months through April 30, 2027. Purchases will be subject to trading-volume restrictions and conducted via ATB Capital Markets on Cboe Canada; they may be made on the open market, as private transactions or block trades, and are not mandatory. Management cites the reclassification of medical cannabis to Schedule III and improved business development as reasons; analysts see profitability for the first time this year and InvestingPro rates the stock as undervalued. » More on de.investing.com