Jupiter Wellness Plans to Spin Off Caring Brands Announced to Shareholders

Jupiter Wellness, Inc. JUPW announced that it has plans to transfer and spin-off 40% of the Company's wholly-owned subsidiary, Caring Brands, Inc., by way of a dividend in the form of digital securities to Jupiter Wellness shareholders with a record date to occur in late November. The Company will maintain sixty percent (60%).

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, the revolutionary trading app for digital securities and NFTs powered by Horizon Fintex ("Horizon") and MERJ Exchange Limited ("MERJ"). Management's intention is to publicly list Caring Brands, Inc. via a listing on Upstream in December 2022.

Caring Brands, Inc. is an innovative developer of cannabidiol (CBD) based therapeutics and wellness products. The Company's inventory of CBD-enhanced skin-care therapeutics addresses a range of indications including skincare and general wellness. The Company generates revenue through the manufacturing, distribution, and marketing of a diverse line of consumer products infused with CBD.

The planned dual listing on Upstream is designed to provide Caring Brands, Inc. the opportunity to access a global, digital-first investor base that can trade using USDC digital currency along with credit cards, debit cards, PayPal, and USD, unlocking liquidity and enhancing price discovery while globalizing the opportunity to invest in Caring Brands, Inc. Once approved for listing on Upstream, Jupiter shareholders of record will be able to install the Upstream App and receive the dividend shares. Details on how shareholders of record will receive their dividend shares and how to trade them on Upstream will be explained upon notification of the dividend's record date.

Speaking about the application to list on Upstream, Brian John, CEO of Jupiter Wellness, said, "We are always looking for ways to create greater liquidity and value for our shareholders. We view a dual listing on Upstream as being an excellent way to reach a worldwide market of potential new investors who can learn about our Company. We recently announced a business pivot to streamline our business focus and look forward to updating our expanding shareholder base as we move forward."

Approval to be listed on Upstream is subject to acceptance by MERJ including, but not limited to, disclosure, filing, and notification requirements.

Image sourced from Shutterstock

This post contains sponsored advertising content. This content is for informational purposes only and not intended to be investing advice.

Market News and Data brought to you by Benzinga APIs
Posted In: NewsPenny StocksJupiter Wellness
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!