Annonce • Feb 17
Neptune Wellness Solutions Inc. to Report Q3, 2024 Results on Feb 16, 2024 Neptune Wellness Solutions Inc. announced that they will report Q3, 2024 results on Feb 16, 2024 Annonce • Feb 16
Neptune Wellness Solutions Inc. announced delayed 10-Q filing On 02/15/2024, Neptune Wellness Solutions Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Annonce • Dec 05
Neptune Wellness Announces Receipt of Nasdaq Delisting Notice and Intention to Appeal Neptune Wellness Solutions Inc. (‘Neptune’ or the ‘Company’) announced that it received notification from the Nasdaq Stock Market LLC (‘Nasdaq’) on November 30, 2023, that Nasdaq has determined to delist the Company's common shares (the ‘Common Shares’) due to noncompliance with the Minimum Bid Requirement and the Stockholders’ Equity Requirement (each as defined below). The notification specifies that the Company is not in compliance with the minimum bid price requirement for continued listing on the Nasdaq Capital Market (NASDAQ Listing Rule 5550(a)(2)), as the bid price for the Common Shares on Nasdaq closed below USD 1.00 (the ‘Minimum Bid Requirement’) for 30 consecutive trading days. As the Company previously implemented two reverse stock splits over the prior two-year period with a cumulative ratio of 250 shares or more to one, it is not eligible for any compliance period specified in Rule 5810(c)(3)(A). In addition, as previously disclosed, the Company received notification on July 19, 2023, that it was not in compliance with the minimum stockholders’ equity requirement (NASDAQ Listing Rule 5550(b)(1)), as the Company's stockholders’ equity was below the minimum USD 2.5 million required (the ‘Stockholders’ Equity Requirement’). The Company was provided 180 calendar days, or until January 16, 2024, to regain compliance with the Stockholders’ Equity Requirement. This deficiency serves as an additional and separate basis for delisting. The Company intends to appeal the determination made by Nasdaq within seven calendar days, or by December 7, 2023, pursuant to the procedures set forth in the Nasdaq Listing Rules. The Nasdaq Listing Rules provide that the Company may request a hearing before a Nasdaq Hearings Panel (the ‘Panel’), and such hearing request will stay the suspension of the Company's securities pending the Panel's decision. There can be no assurance as to the success or outcome of the appeal. Annonce • Nov 21
Neptune Wellness Solutions Inc. (NasdaqCM:NEPT) entered into a non-binding Letter of Intent to acquire Datasys Group Inc. approximately $110 million. Neptune Wellness Solutions Inc. (NasdaqCM:NEPT) entered into a non-binding Letter of Intent to acquire Datasys Group Inc. for approximately $110 million on November 20, 2023. Total potential consideration for the acquisition is $112 million in a combination of $20 million in cash at closing, $32 million in restricted equity based on a pre-closing VWAP of the Company’s share price on NASDAQ (subject to a minimum of 10 million shares) and restricted until three gradual releases over 10-30 months, a 5-year $31 million PIK seller note. An earnout payment ranging from $5 million to $22 million, subject to Datasys achieving 2024 EBITDA thresholds between $13 million and $16 million.
The Proposed Transaction is subject to the negotiation of definitive documentation between the parties and it is anticipated that closing of the Proposed Transaction would be subject to shareholder approval and additional terms and conditions, including the need for the Company to secure financing for the cash portion of the consideration and satisfactory due diligence by the respective parties. There can be no assurance that a definitive agreement will be entered into or that the Proposed Transaction will be consummated on the terms or timeframe currently contemplated, or at all. Annonce • Oct 14
Neptune Wellness Solutions Inc. Announces Completed Settlement of Class Action Lawsuit Neptune Wellness Solutions Inc. has completed the previously announced settlement of a putative shareholder class action lawsuit filed against Neptune and certain of its current and former officers and directors. Annonce • Aug 17
Neptune Wellness Solutions Inc. announced delayed 10-Q filing On 08/15/2023, Neptune Wellness Solutions Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Annonce • Aug 05
Neptune Wellness Solutions Inc. Announces CFO Changes Neptune Wellness Solutions Inc. announced the promotion of Lisa Gainsborg, currently Neptune's Financial Controller, to Interim Chief Financial Officer, effective immediately, replacing Raymond Silcock who has resigned for personal reasons. Ms. Gainsborg possesses significant experience and knowledge of accounting and finance across both public and private companies, with background in financial statement preparation, Securities and Exchange Commission reporting, Sarbanes-Oxley compliance, the creation of accounting and reporting controls and procedures, and experience with developing enterprise resource planning systems. Ms. Gainsborg previously held financial leadership roles at several companies including Basanite Inc., Zero Gravity Solutions Inc., A+ Accounting Services Inc. She has also provided chief financial officer consulting services and accounting system support for clients and prepared corporate, partnership, and individual tax returns. Ms. Gainsborg is a Certified Public Accountant in Florida and Maryland. She received a Bachelor of Business Administration in Accounting from Hofstra University in 1989. Annonce • Jul 01
Neptune Wellness Solutions Inc. announced delayed annual 10-K filing On 06/30/2023, Neptune Wellness Solutions Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC. Annonce • May 17
Neptune Wellness Solutions Inc. has completed a Follow-on Equity Offering in the amount of $4 million. Neptune Wellness Solutions Inc. has completed a Follow-on Equity Offering in the amount of $4 million.
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 12,121,212
Price\Range: $0.33
Security Name: Warrants
Security Type: Equity Warrant
Securities Offered: 12,121,212 Annonce • Feb 16
Neptune Wellness Solutions Inc. announced delayed 10-Q filing On 02/15/2023, Neptune Wellness Solutions Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Annonce • Jan 07
Neptune Wellness Solutions Announces Receipt of NASDAQ Notification Neptune Wellness Solutions Inc. announced that the Company has received a written notification (the "Notification Letter") from the Nasdaq Stock Market LLC ("Nasdaq") on December 29, 2022, notifying the Company that it is not in compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2), which requires that the closing bid price for the Company's common shares listed on Nasdaq be maintained at a minimum of $1.00. Listing Rule 5810(c)(3)(A) provides that a failure to meet the minimum bid price requirement exists if the deficiency continues for a period of 30 consecutive business days. Based on the closing bid price of the Company's common shares for the 30 consecutive business days from November 15, 2022 to December 28, 2022, the Company no longer met the minimum bid price requirement. The Notification Letter has no immediate effect on the listing of the Company's common shares on Nasdaq. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has been provided 180 calendar days, or until June 27, 2023, to regain compliance with the minimum bid price requirement, during which time the Company's common shares will continue to trade on the Nasdaq Capital Market. To regain compliance, the Company's common shares must have a closing bid price of at least $1.00 for a minimum of 10 consecutive trading days. In the event the Company does not regain compliance by June 27, 2023, the Company may be eligible for additional time to regain compliance or may face delisting. The Company's business operations are not affected by the receipt of the Notification Letter. The Company intends to monitor the closing bid price of its common shares and may, if appropriate, consider implementing available options, including, but not limited to, implementing a reverse share split of its outstanding common shares, to regain compliance with the minimum bid price requirement under the Nasdaq Listing Rules. Annonce • Nov 23
Neptune Wellness Solutions Inc. Revises Revenue Guidance for the Second Quarter of Fiscal Year 2023 Neptune Wellness Solutions Inc. revised revenue guidance for the second quarter of fiscal year 2023. For the period, the company expects revenue range from USD 12.5 million to USD 13.5 million to USD 11.5 million to USD 12.5 million. Approximately 70% of second quarter revenues were from Sprout, representing a double digit increase compared to the same quarter last year. Annonce • Nov 10
PurCann Pharma Inc. completed the acquisition of Cannabis Assets of Neptune Wellness Solutions Inc. for CAD 5.2 million. PurCann Pharma Inc. entered into a binding agreement to acquire Cannabis Assets of Neptune Wellness Solutions Inc. for approximately CAD 6 million on October 16, 2022. The cannabis assets include includes the cannabis plant in Sherbrooke, Québec, the Mood Ring and PanHash brands, and related assets. Neptune intends to use the net proceeds from the sale of these assets to for working capital and other general corporate purposes. The Transaction is expected to close on or before November 15, 2022. Stifel Nicolaus Canada Inc. acted as financial opinion provider and exclusive financial advisor to Neptune Wellness Solutions Inc. Osler, Hoskin & Harcourt LLP acted as legal advisor to Neptune Wellness Solutions Inc.
PurCann Pharma Inc. completed the acquisition of Cannabis Assets of Neptune Wellness Solutions Inc. for CAD 5.2 million on November 9, 2022. Annonce • Oct 22
Neptune Wellness Solutions Inc. Reaches Settlement in Shareholder Class Action Litigation Neptune Wellness Solutions Inc. announced that it has agreed to settle and resolve a putative shareholder class action lawsuit filed against Neptune and certain of its current and former officers and directors, captioned Gong v. Neptune Wellness Solutions Inc. (Case No. 2:21-cv-01386-ENV-ARL) pending in the United States District Court for the Eastern District of New York (the "Court"). The litigation relates to allegations that, among other things, the Company had made misrepresentations of material information. The settlement provides for a gross payment to the class of between $4 and $4.25 million, with the exact amount being within the Company's control and dependent on the type of consideration used. The settlement is subject to Court approval and certification by the Court of the class. The settlement will resolve this matter against all defendants, and the consideration will be used to satisfy settlement administrator expenses, plaintiffs' attorneys' fees and costs, and payments to all members of the Class. In exchange for the settlement consideration, the Company and the other defendants will be released from all claims by the plaintiffs and the class. The Company denies all wrongdoing and liability and the settlement does not constitute an admission of wrongdoing or liability by the Company or any defendant. The class is comprised of all persons and entities that purchased or otherwise acquired Neptune securities on the NASDAQ or another U.S. trading venue between July 24, 2019, and July 15, 2021. The settlement is contingent upon various conditions, including, but not limited to, preliminary approval by the Court and final approval by the Court after notice to the class, certification of the class and a hearing. There can be no assurance that the settlement will be approved by the Court nor upheld if challenged on appeal. In addition, the Company has the right to terminate the settlement agreement under certain conditions. The Company has filed a claim for coverage with its insurance carrier, which was subsequently denied. The Company is contesting the denial of coverage. Annonce • Oct 19
PurCann Pharma Inc. entered into a binding agreement to acquire Cannabis Assets of Neptune Wellness Solutions Inc. for approximately CAD 6 million. PurCann Pharma Inc. entered into a binding agreement to acquire Cannabis Assets of Neptune Wellness Solutions Inc. for approximately CAD 6 million on October 16, 2022. The cannabis assets include includes the cannabis plant in Sherbrooke, Québec, the Mood Ring and PanHash brands, and related assets. Neptune intends to use the net proceeds from the sale of these assets to for working capital and other general corporate purposes. The Transaction is expected to close on or before November 15, 2022. Stifel Nicolaus Canada Inc. acted as financial opinion provider and exclusive financial advisor to Neptune Wellness Solutions Inc. Osler, Hoskin & Harcourt LLP acted as legal advisor to Neptune Wellness Solutions Inc. Annonce • Oct 13
Neptune Wellness Solutions Inc. has completed a Follow-on Equity Offering in the amount of $6.000002 million. Neptune Wellness Solutions Inc. has completed a Follow-on Equity Offering in the amount of $6.000002 million.
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 3,208,557
Price\Range: $1.87
Discount Per Security: $0.0748
Transaction Features: Registered Direct Offering Board Change • Jun 02
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. 6 highly experienced directors. Independent Director Ronald Denis is the most experienced director on the board, commencing their role in 2000. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Recent Insider Transactions • Mar 03
President recently bought €346k worth of stock On the 1st of March, Michael Cammarata bought around 1m shares on-market at roughly €0.31 per share. This was the largest purchase by an insider in the last 3 months. Michael has been a buyer over the last 12 months, purchasing a net total of €365k worth in shares. Reported Earnings • Feb 11
Third quarter 2022 earnings: EPS in line with analyst expectations despite revenue beat Third quarter 2022 results: CA$0.11 loss per share (up from CA$0.59 loss in 3Q 2021). Revenue: CA$18.4m (up 456% from 3Q 2021). Net loss: CA$18.7m (loss narrowed 75% from 3Q 2021). Revenue exceeded analyst estimates by 6.1%. Over the next year, revenue is forecast to grow 81%, compared to a 6.9% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has fallen by 57% per year, which means it is performing significantly worse than earnings. Reported Earnings • Nov 16
Second quarter 2022 earnings released: CA$0.076 loss per share (vs CA$0.20 loss in 2Q 2021) The company reported a soft second quarter result with weaker revenues and control over costs, although losses reduced. Second quarter 2022 results: Revenue: CA$15.7m (down 45% from 2Q 2021). Net loss: CA$12.7m (loss narrowed 42% from 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has only fallen by 47% per year, which means it has not declined as severely as earnings. Board Change • Sep 13
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Jane Pemberton was the last director to join the board, commencing their role in 2020. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Sep 05
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Jane Pemberton was the last director to join the board, commencing their role in 2020. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Executive Departure • Sep 01
Independent Director Jane Pemberton has left the company On the 26th of August, Jane Pemberton's tenure as Independent Director ended after 1.0 years in the role. As of June 2021, Jane still personally held only 9.67k shares (€9.2k worth at the time). A total of 3 executives have left over the last 12 months. The current median tenure of the management team is 1.25 years, which is considered inexperienced in the Simply Wall St Risk Model. Executive Departure • Sep 01
Independent Director Frank Rochon has left the company On the 26th of August, Frank Rochon's tenure as Independent Director ended after 1.0 years in the role. As of June 2021, Frank still personally held only 4.77k shares (€4.6k worth at the time). A total of 3 executives have left over the last 12 months. The current median tenure of the management team is 1.25 years, which is considered inexperienced in the Simply Wall St Risk Model. Recent Insider Transactions • Jul 22
Independent Chairman recently bought €67k worth of stock On the 20th of July, John Moretz bought around 100k shares on-market at roughly €0.67 per share. This was the largest purchase by an insider in the last 3 months. John has been a buyer over the last 12 months, purchasing a net total of €210k worth in shares. Reported Earnings • Jul 18
Full year 2021 earnings released: CA$1.38 loss per share (vs CA$0.68 loss in FY 2020) The company reported a mediocre full year result with increased losses and weaker control over costs, although revenues improved. Full year 2021 results: Revenue: CA$46.8m (up 58% from FY 2020). Net loss: CA$167.1m (loss widened 175% from FY 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 58 percentage points per year, which is a significant difference in performance. Executive Departure • May 23
Independent Director has left the company On the 17th of May, Richard Schottenfeld's tenure as Independent Director ended after 4.9 years in the role. As of March 2021, Richard personally held 180.45k shares (€182k worth at the time). A total of 3 executives have left over the last 12 months. Is New 90 Day High Low • Mar 06
New 90-day low: €1.15 The company is down 18% from its price of €1.40 on 04 December 2020. The German market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Personal Products industry, which is down 4.0% over the same period. Reported Earnings • Feb 18
Third quarter 2021 earnings released: CA$0.59 loss per share (vs CA$0.06 profit in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and control over costs. Third quarter 2021 results: Revenue: CA$3.32m (down 64% from 3Q 2020). Net loss: CA$73.8m (down CA$79.4m from profit in 3Q 2020). Analyst Estimate Surprise Post Earnings • Feb 18
Revenue misses expectations Revenue missed analyst estimates by 78%. Over the next year, revenue is forecast to grow 183%, compared to a 5.4% growth forecast for the Personal Products industry in Germany. Is New 90 Day High Low • Feb 06
New 90-day high: €1.93 The company is up 5.0% from its price of €1.83 on 06 November 2020. The German market is up 15% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Personal Products industry, which is down 5.0% over the same period. Is New 90 Day High Low • Dec 15
New 90-day low: €1.17 The company is down 41% from its price of €1.97 on 16 September 2020. The German market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Personal Products industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Recent Insider Transactions • Nov 22
Independent Chairman recently bought €143k worth of stock On the 19th of November, John Moretz bought around 100k shares on-market at roughly €1.43 per share. This was the largest purchase by an insider in the last 3 months. John has been a buyer over the last 12 months, purchasing a net total of €469k worth in shares. 