Psychedelics-focused biopharma company Mind Medicine Inc. (NASDAQ:MNMD), (NEO:MMED), (DE:MMQ) confirmed Wednesday that all the company’s issued and outstanding multiple voting shares will undergo a mandatory conversion into subordinate voting shares in accordance with the company’s articles. The conversion will be effective March 14, 2022.
MindMed’s transfer agent will provide requisite notice to each holder of multiple voting shares. On the effective date, the multiple voting shares will automatically, without any action on the part of MVS holders, be converted into subordinate voting shares on the basis of one multiple voting share for 100 subordinate voting shares, and in the case of fractions of multiple voting shares, such number of subordinate voting shares as is determined by multiplying the fraction by 100.
