Jupiter Wellness, Inc. Announces Payment Date For The Distribution Of Common Stock Of SRM Entertainment, Inc.

Author: Happy Mohamed | August 02, 2023 08:13am

Jupiter Wellness, Inc. (NASDAQ:JUPW) (the "Company" or "Jupiter Wellness"), today announced that the payment date for the distribution of shares of common stock, par value $0.0001 per share ("SRM Common Stock"), of SRM Entertainment, Inc. ("SRM"), currently a majority-owned subsidiary of the Company, to effect the spin-off of the SRM business is expected be on August 3, 2023.
 

The payment date remains subject to SRM's Registration Statement on Form S-1 (Filed No. 333-272250), as amended (the "Registration Statement"), being declared effective by the U.S. Securities and Exchange Commission (the "SEC"), the approval of the listing of the SRM Common Stock on the Nasdaq Capital Market ("Nasdaq") and the receipt of certain other approvals in connection with the offering. In the event that such Registration Statement is not declared effective or the SRM Common Stock is not approved for listing, the distribution will not be paid on such date and the spin-off transaction will not occur. The Company anticipates that the SRM Common Stock will begin trading on Nasdaq on August 4, 2023.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities and shall not constitute an offer, solicitation or sale of any security in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to consummation of the offering. The Registration Statement relating to shares of SRM Common Stock has been filed with the SEC, but has not yet become effective. These shares of SRM Common Stock may not be sold nor may offers to acquire be accepted prior to the time the Registration Statement becomes effective. When available, a final prospectus may be obtained from the Company or by visiting the website maintained by the SEC at www.sec.gov.

Posted In: JUPW