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$FSD Pharma (HUGE.US)$ FSD Pharma Announces Share Consolidation and Name Change
FSD Pharma (NASDAQ: HUGE) announced a 1-for-65 share consolidation and a name change to Quantum BioPharma . The consolidation, effective August 15, 2024, aims to regain Nasdaq compliance. The company will trade under the new symbol 'QNTM' on both Nasdaq and CSE.
Post-consolidation, Class A shares will reduce from 72 to 2, and Class B shares from 77,649,332 to approximately 1,194,852.
Additionally, FSD Pharma plans a non-brokered private placement of up to 4 post-consolidation Class A shares at $18.00 each, expected to be subscribed by entities controlled by Zeeshan Saeed and Anthony Durkacz. This offering aims to increase Class A voting rights from 20.42% to 58.15%, closer to the initial 75.87% when the company went public in 2018.
FSD Pharma (NASDAQ: HUGE) announced a 1-for-65 share consolidation and a name change to Quantum BioPharma . The consolidation, effective August 15, 2024, aims to regain Nasdaq compliance. The company will trade under the new symbol 'QNTM' on both Nasdaq and CSE.
Post-consolidation, Class A shares will reduce from 72 to 2, and Class B shares from 77,649,332 to approximately 1,194,852.
Additionally, FSD Pharma plans a non-brokered private placement of up to 4 post-consolidation Class A shares at $18.00 each, expected to be subscribed by entities controlled by Zeeshan Saeed and Anthony Durkacz. This offering aims to increase Class A voting rights from 20.42% to 58.15%, closer to the initial 75.87% when the company went public in 2018.
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