Ascend Wellness Holdings Announces New Share Buyback Program to Enhance Shareholder Value

Ascend Wellness Holdings Announces New Share Buyback Program

MORRISTOWN, N.J., December 27, 2024 – Ascend Wellness Holdings, Inc. (commonly known as AWH) has announced a new initiative aimed at enhancing shareholder value through a share buyback program authorized by its Board of Directors. Known for being a vertically integrated multi-state cannabis operator, Ascend Wellness is dedicated to improving lives through cannabis.

Starting on January 2, 2025, the company plans to repurchase up to 10,215,690 shares of its Class A common stock, equating to about 5% of its total outstanding shares. Additionally, the total repurchase amount could reach up to $2.25 million, depending on market conditions. As of December 24, 2024, AWH had 204,313,808 issued and outstanding common shares.

CEO Sam Brill commented on the buyback program, saying, "With this initiative, we are taking another meaningful step to continue creating shareholder value. Our previous share repurchase and recent open market purchases by board members reflect our strong confidence in our strategic plan and dedication to generating returns for our investors. We are eager to explore the new opportunities that the upcoming year will bring."

The share buyback will occur on trading platforms including the Canadian Securities Exchange (CSE) and OTCQX, in compliance with regulatory and contractual standards. Purchases will be managed by ATB Securities Inc. The timing, quantity, and pricing of the repurchases will be influenced by various factors such as market conditions, business considerations, and compliance with any applicable securities laws.

The buyback program is set to expire on January 1, 2026, but it may be modified, suspended, or terminated at any point. Although Ascend Wellness plans to proceed with these share repurchases, it is under no obligation to buy back shares throughout the entire program.

Additionally, as a prominent cannabis operator, AWH owns and operates advanced cultivation facilities across states like Illinois, Maryland, Michigan, New Jersey, and many others. The company produces a curated selection of products under its various in-house brands, which include Common Goods, Simply Herb, Ozone, Effin', and Royale.

As the cannabis industry continues to evolve, Ascend Wellness remains firmly committed to maximizing its asset efficiency and improving its profitability to boost cash flow, aligning its operational goals with shareholder expectations. The company emphasizes that any forward-looking statements made in conjunction with the buyback announcement are based on current assessments and assumptions concerning future events.

Investors and stakeholders are encouraged to monitor AWH’s progress and any future updates regarding the buyback program. It remains crucial for market participants to approach projections and forward-looking statements with caution, as numerous known and unknown risks could lead to different outcomes than anticipated. As always, significant developments will be disclosed in compliance with necessary regulations and legal requirements.

For further information, Ascend Wellness invites interested parties to visit their official website, www.awholdings.com, where updates and details about their corporate strategies and market initiatives are regularly shared.