stock1ace1
1 year ago
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.
subslover
1 year ago
Consolidated net revenue of $10.6 million, down from $16.3 million for the same period last year. This is largely due to a decrease of $2.7 million or 100% in Cannabis revenues from the now-divested Cannabis business, as well as decrease of $2.9 million in nutraceutical revenues versus the same period last year due to timing of orders, offset by an increase in revenue from food and beverages.
Gross profit of $2.8 million compared to a gross loss of $4.5 million for the same period last year. This improvement to the gross profit was attributable to the increase in food and beverage revenues, the divestiture of the cannabis business and cost cutting measures, offset by the decrease in nutraceutical revenues due to timing of customer orders.
Dancing in the dark
1 year ago
0.6 million (600k) shares outstanding ... And 10M shares traded. What's going on?
LAVAL, QC,Β Aug. 22, 2023Β /CNW/ - 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 that it will conduct a share consolidation of its outstanding common shares ("Common Shares") on the basis of one (1) post-consolidation Common Share for every forty (40) pre-consolidation Common Shares (the "Consolidation"). The Consolidation was previously approved by the board of directors of the Company onΒ August 7, 2023. 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.Β 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.
crudeoil24
1 year ago
Nice premarket trades!!!!! > 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, today announced that after careful consideration and evaluation of potential strategic alternatives to enhance the Company's value, the Board of Directors has approved a plan to proceed with a spinout to Neptune shareholders of a majority of its equity interest in Sprout Organics ("Sprout"), an organic baby food and toddler brand. Upon completion of the spinout, which would follow the previously announced exchange by Neptune of existing Sprout debt for Sprout equity, pursuant to the term sheet entered into with Morgan Stanley as previously announced on August 17, 2023, it is anticipated that Neptune would spinout a majority of its equity interest in Sprout to current Neptune shareholders, and Neptune would keep a retained interest of approximately 10-15%.
The Company believes there are many benefits in proceeding with the contemplated spinout transaction, including reducing Neptune's operating costs and cash requirements and generally reducing Neptune's debt exposure, such that Neptune's overall financial position and cash flows would be improved.
Neptune will provide updates when further details of the proposed spinout transaction are determined. Neptune continues to evaluate additional available strategic options for the Company to unlock and maximize shareholder value, including strategic business and financial alternatives, which may include, but is not limited to, the monetization of assets, strategic partnerships, etc.
subslover
1 year ago
the company said it will spin out a majority of its stake in Sprout Organics, an organic baby food and toddler brand, to its current shareholders.
The decision was made following a review of strategic alternatives to enhance the company's value.
Once the spinout is complete, which would follow Neptune's (NEPT) exchange of existing Sprout debt for equity, Neptune is expected to retain an ~10-15% stake in the brand.
The spinout is expected to reduce Neptune's (NEPT) operating costs, cash requirements and debt exposure, improving its overall financial position and cash flows.
Neptune (NEPT) continues to evaluate strategic options to maximize
hondaboost
1 year ago
Wow! NEPT will do 1 for 40 Big R/S soon! Here:
AVAL, QC, Aug. 22, 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 that it will conduct a share consolidation of its outstanding common shares ("Common Shares") on the basis of one (1) post-consolidation Common Share for every forty (40) pre-consolidation Common Shares (the "Consolidation"). The Consolidation was previously approved by the board of directors of the Company on August 7, 2023. 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.