On December 31, 2020 Enveric Biosciences, Inc. (NASDAQ: ENVB) ("Enveric" or the "Company"), formerly AMERI Holdings, Inc. (NASDAQ: AMRH), a patient-centric biotechnology company endeavoring to enhance the lives of those who are adversely affected by the side effects of Cancer Treatments with novel cannabinoid medicines, reported the completion of the previously announced spin-off of the IT services business of the Company and the tender offer, whereby the Company purchased all of the outstanding common shares of Jay Pharma Inc. ("Jay Pharma") in exchange for shares of Company common stock, or if applicable, shares of Company preferred stock., and Jay Pharma became a wholly-owned subsidiary of the Company (Press release, AMERI Holdings, DEC 31, 2020, View Source [SID1234573363]).
The Company has also completed its name change from AMERI Holdings, Inc. to Enveric Biosciences, Inc., and has effected a 1-for-4 reverse split of its common stock, effective as of 4:02 pm Eastern Time, December 30, 2020. Enveric will commence trading on the Nasdaq Capital Market at the opening of trading this morning, December 31, 2020, under its new ticker symbol "ENVB" on a post-reverse-stock-split basis (CUSIP No. 29405E 109).
"We are thrilled to complete this transaction and commence trading on the Nasdaq as Enveric Biosciences under the ticker symbol "ENVB." Today marks the beginning of our journey as a publicly traded company, enhancing the visibility of our business to the investment community. The support of existing and new investors will enable us to continue our dedicated work of developing innovative treatments focused on the unmet need for supportive care of cancer patients by adding life to patients’ years, not just years to their lives," said David Johnson, Chairman and CEO at Enveric Biosciences.
Palladium Capital Group, LLC acted as financial advisor to the parties in connection with the above transactions.
Additional information regarding the foregoing transactions and the reverse stock split, which were approved at the special meeting of Company stockholders held on December 29, 2020, can be found in the Company’s definitive proxy/prospectus and other relevant documents filed with the Securities and Exchange Commission ("SEC") at the SEC’s website at www.sec.gov.
Copies of the documents filed by the Company with the SEC are available free of charge on the Company’s website at www.enveric.com or by contacting Company Investor Relations.