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Jupiter Wellness Plan To Spin Off Caring Brands As Digital Securities Dividend

Shivani Kumaresan
·1 min read

  • Jupiter Wellness Inc (NASDAQ: JUPW) has plans to transfer and spin off 40% of its wholly-owned subsidiary, Caring Brands Inc, by way of a dividend. Jupiter will maintain 60%.

  • The dividend will be in a form of digital securities and will be transferred to shareholders with a record date to occur in late November.

  • The spin-off transaction will be subject to various conditions, including Caring Brands, Inc. meeting the qualifications for future listing on the Blockchain-powered Securities Exchange Upstream and NFTs powered by Horizon Fintex and MERJ Exchange Limited.

  • Management's intention is to publicly list Caring Brand in a listing on Upstream in December 2022.

  • The planned dual listing on Upstream is designed to provide Caring Brands, Inc. the opportunity to access a global, digital-first investor base.

  • Caring Brands is a developer of cannabidiol (CBD) based therapeutics and wellness products.

  • Price Action: JUPW shares are trading lower by 11.64% at $1.02 on the last check Monday.

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