Verano is a holding company and conducts its business operations through subsidiaries and affiliates. The following chart sets forth the corporate structure of the Company and its primary subsidiary, Verano LLC. We operate our business through direct and indirect subsidiaries and affiliates of the Company. As part of the implementation of the Go Public Transactions, through a series of transactions we formed two levels of subsidiaries above Verano LLC that include Verano Holdings USA Corp., a Delaware corporation (“BlockerCo”), and five subsidiaries of BlockerCo, those being ZNN Holdings, LLC, a Delaware limited liability company, Nuuvn Holdings, LLC, a Delaware limited liability company, ZenNorth LLC, a Delaware limited liability company, A&T SPV II LLC, a Texas limited liability company, and SGI 1 LLC, a Delaware limited liability company (collectively, the “Blocker Subsidiaries”). BlockerCo and the Blocker Subsidiaries have no business or operations and exist solely to affect the Go Public Transactions and the taxation of Verano as a U.S. corporation rather than a British Columbia corporation.
Company profile
Ticker
VRNOF
Exchange
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
Corporate docs
Subsidiaries
102 Chester, LLC • 1090 Longwood, LLC • 11340 Fort Myers, LLC • 1200 Sharon, LLC • 12395 North Miami, LLC • 1246 Newark, LLC • 130 Monroeville, LLC • 1325 Coolidge, LLC • 1387 & 1391 Meriden, LLC • 16 Magothy Road Beach, LLC ...
IRS number
981583243
Latest filings (excl ownership)
8-K
Departure of Directors or Certain Officers
26 Mar 24
8-K
Other Events
25 Mar 24
8-K/A
Verano Announces Revised Fourth Quarter and Full Year 2023 Financial Results
15 Mar 24
10-K
2023 FY
Annual report
15 Mar 24
NT 10-K
Notice of late annual filing
29 Feb 24
8-K/A
Verano Announces Fourth Quarter and Full Year 2023 Financial Results
29 Feb 24
8-K
Verano Announces Fourth Quarter and Full Year 2023 Financial Results
29 Feb 24
D
$1.25 mm in equity, 1 investor
9 Jan 24
8-K
Verano Broadens Retail Footprint in Northeast Florida with the Opening of MÜV Yulee, the Company’s 74th Florida Location
4 Jan 24
8-K
Entry into a Material Definitive Agreement
2 Jan 24
Transcripts
Latest ownership filings
144
Notice of proposed sale of securities
28 Mar 24
4
Laura Marie Kalesnik
27 Mar 24
4
Lawrence Randall Hirsh
27 Mar 24
4
Richard C Tarapchak
27 Mar 24
144
Notice of proposed sale of securities
26 Mar 24
144
Notice of proposed sale of securities
26 Mar 24
SC 13G
NOMURA HOLDINGS INC
14 Feb 24
SC 13G/A
Cowen Financial Products LLC
2 Feb 24
SC 13D/A
Archos George Peter
29 Dec 23
4
George Peter Archos
29 Dec 23
Financial summary
Quarter (USD) | Sep 23 | Jun 23 | Mar 23 | Dec 22 | |
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Revenue | |||||
Cost of revenue | |||||
Operating income | |||||
Operating margin | |||||
Net income | |||||
Net profit margin | |||||
Cash on hand | |||||
Change in cash | |||||
Diluted EPS |
Annual (USD) | Dec 22 | |
---|---|---|
Revenue | ||
Cost of revenue | ||
Operating income | ||
Operating margin | ||
Net income | ||
Net profit margin | ||
Cash on hand | ||
Change in cash | ||
Diluted EPS |
Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 129.92 mm | 129.92 mm | 129.92 mm | 129.92 mm | 129.92 mm | 129.92 mm |
Cash burn (monthly) | (no burn) | (no burn) | (no burn) | 9.34 mm | 8.85 mm | 2.96 mm |
Cash used (since last report) | n/a | n/a | n/a | 55.90 mm | 52.96 mm | 17.72 mm |
Cash remaining | n/a | n/a | n/a | 74.02 mm | 76.96 mm | 112.21 mm |
Runway (months of cash) | n/a | n/a | n/a | 7.9 | 8.7 | 37.9 |
Institutional ownership, Q3 2023
11.3% owned by funds/institutions
13F holders | Current |
---|---|
Total holders | 5 |
Opened positions | 0 |
Closed positions | 0 |
Increased positions | 1 |
Reduced positions | 0 |
13F shares | Current |
---|---|
Total value | 825.13 mm |
Total shares | 38.88 mm |
Total puts | 0.00 |
Total calls | 0.00 |
Total put/call ratio | – |
Largest owners | Shares | Value |
---|---|---|
George Peter Archos | 22.23 mm | $107.19 mm |
Cowen Financial Products | 16.50 mm | $48.83 mm |
Westerly Capital Management | 100.00 k | $455.00 mm |
ONB Old National Bancorp | 47.05 k | $214.06 mm |
Albert D Mason | 11.23 k | $51.00 k |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
26 Mar 24 | Richard C Tarapchak | Class A Subordinate Voting Shares | Sell | Acquire S | No | Yes | 5.4498 | 6,424 | 35.01 k | 45,402 |
26 Mar 24 | Laura Marie Kalesnik | Class A Subordinate Voting Shares | Sell | Dispose S | No | Yes | 5.4498 | 3,760 | 20.49 k | 72,960 |
25 Mar 24 | Richard C Tarapchak | Class A Subordinate Voting Shares | Option exercise | Acquire M | No | No | 0 | 20,188 | 0.00 | 51,826 |
25 Mar 24 | Richard C Tarapchak | RSU Class A Subordinate Voting Shares | Option exercise | Dispose M | No | No | 0 | 20,188 | 0.00 | 229,343 |
25 Mar 24 | Lawrence Randall Hirsh | Class A Subordinate Voting Shares | Option exercise | Acquire M | No | No | 0 | 17,542 | 0.00 | 35,083 |
25 Mar 24 | Lawrence Randall Hirsh | RSU Class A Subordinate Voting Shares | Option exercise | Dispose M | No | No | 0 | 17,542 | 0.00 | 120,995 |
25 Mar 24 | Laura Marie Kalesnik | Class A Subordinate Voting Shares | Option exercise | Acquire M | No | No | 0 | 14,219 | 0.00 | 76,720 |
25 Mar 24 | Laura Marie Kalesnik | RSU Class A Subordinate Voting Shares | Option exercise | Dispose M | No | No | 0 | 14,219 | 0.00 | 356,394 |
28 Dec 23 | George Peter Archos | Class A Subordinate Voting Shares | Other | Acquire J | Yes | No | 0 | 204,082 | 0.00 | 204,082 |
28 Dec 23 | George Peter Archos | Class A Subordinate Voting Shares | Other | Acquire J | Yes | No | 0 | 204,082 | 0.00 | 204,082 |
News
'Unsexy' Alternative, Operating Within Constraints, Consistency & Love: 3 Experts On Making Cannabis Businesses Self-Sustainable
27 Mar 24
Verano Holdings CIO To Share Insights Into Florida's Cannabis Boom At Benzinga Conference
24 Mar 24
Level Up Your Cannabis Experience: Join Verano's New Cabbage Club
20 Mar 24
State Legalization Efforts Put Federal Marijuana Ban Under Fire, Verano Holdings Leads Lawsuit
18 Mar 24
Marijuana Company Verano Holdings Worth $2.1B, Outprices Its Expected 2024 Earnings
14 Mar 24
Press releases
Verano Launches Cabbage Club™, Disrupting the Current Cannabis Retail Landscape with Industry-First National Membership Model
20 Mar 24
Verano Announces Revised Fourth Quarter and Full Year 2023 Financial Results
15 Mar 24
Verano Announces Upcoming Conference Participation
11 Mar 24
Verano Announces Fourth Quarter and Full Year 2023 Financial Results
29 Feb 24
Verano Expands Pennsylvania Retail Footprint with the Opening of Zen Leaf Norristown, the Company's 18th Affiliated Pennsylvania Dispensary and 138th Retail Location Nationwide
15 Feb 24