Ascend Wellness Holdings Inc.
12/27/2024 | Press release | Distributed by Public on 12/27/2024 16:17
Material Event Form 8 K
Item 8.01. Other Events.
On December 27, 2024, Ascend Wellness Holdings, Inc. (the "Company") announced that it has received authorization from the Company's Board of Directors to commence a share buyback program ("Buyback Program"). Pursuant to a normal course issuer bid ("NCIB") commencing on January 2, 2025, the Company may repurchase up to the lesser of: (i) 10,215,690 shares of the Company's class A common stock ("Common Shares"), representing approximately 5.0% of the Company's outstanding Common Shares; and (ii) US$2.25 million worth of Common Shares, in the open market. As of December 24, 2024, there were a total of 204,313,808 issued and outstanding Common Shares.
Common Shares may be purchased on the Canadian Securities Exchange ("CSE"), the OTCQX, or alternative trading systems, subject to applicable legal, regulatory and contractual requirements. All purchases made will be through the selected purchasing member, ATB Securities Inc. The total number of Common Shares purchased, timing of purchases, and share price are dependent upon market conditions and business considerations, any applicable securities law requirements, CSE rules and any determination of best use of cash available at the time. Any Common Shares purchased will be cancelled. The Buyback Program will expire on January 1, 2026, and may be suspended, terminated or modified at any time for any reason. While the Company intends to proceed with the Buyback Program, it is under no obligation to purchase any Common Shares for the duration of the Buyback Program.
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