Tilray shareholders approve reverse stock split proposal
Investing.com
Published Jun 10, 2025 06:18PM ET
In a recent development, Tilray (NASDAQ:TLRY) Brands, Inc. announced the approval of a reverse stock split by its shareholders. The decision was made during a special meeting held on Monday, June 10, 2025. The approved amendment to the company's Fifth Amended and Restated Certificate of Incorporation allows for a reverse stock split of Tilray's common stock at a ratio of not less than one-for-ten and not more than one-for-twenty. The exact ratio within this range will be determined by the Board of Directors at their sole discretion.
The reverse stock split aims to reduce the number of outstanding shares of Tilray's common stock without altering the authorized number of shares. The Board of Directors also reserves the right to abandon the proposed amendment and not to effectuate the reverse stock split authorized by the shareholders.
Additionally, the shareholders approved the adjournment proposal, which would allow the special meeting to be postponed to a later date if necessary to secure additional votes for the amendment proposal.
The final voting results for the amendment proposal were 251,406,489 votes for, 181,804,380 against, and 6,427,631 abstentions. The adjournment proposal received 268,900,019 votes for, 157,977,196 against, and 12,761,285 abstentions.
Following the shareholders' authorization, the Board of Directors will continue to evaluate the timing and implementation of the reverse stock split to determine what is in the best interest of the company. This information is based on a press release statement and the company's filing with the Securities and Exchange Commission.
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