On Friday Neptune Wellness Solutions Inc. (NASDAQ:NEPT) stock soared 3.53% and closed at 3.81. The stock opened the session at $3.75 and touched its highest price point at $3.96. Its recent trading capacity is 1219207 shares versus to its average trading volume of 714969 shares. The company’s stock’s lowest price point for the session stood at $3.7.NEPT traded as low as $ 2.42 in the past 52 weeks, and shares hit its peak level to $6.57.
On Oct. 4, 2019, Neptune Wellness Solutions Inc. (NASDAQ:NEPT) (TSX: NEPT) is pleased to notified a new strategic partnership with American Media LLC (American Media) to help support the growth of Neptune’s brands in the U.S., including Forest Remedies™, and OceanO3®.
American Media owns and operates leading celebrity and health & fitness media brands such as Men’s Journal®, Us Weekly®, OK!, Life & Style and enthusiast brands including Powder, Surfer and Bike. Their portfolio of brands has a combined total circulation of 5.7+ million and reach 53+ million readers each month. American Media’s wide reach in mobile and online media is impressive with 65+ million unique visitors and 762+ million page views monthly.
Under the terms of the partnership agreement, American Media will provide advertising and creative services to Neptune to support the marketing and commercialization of Neptune’s consumer-facing brands in the U.S. American Media will also have the opportunity to become a shareholder in Neptune. Neptune will issue to AMI 3,000,000 warrants(1), each warrant allowing the holder to purchase one common share of Neptune at an exercise price of US$8.00 per share and with a 5-year expiration date. The warrants will vest proportionally to the services rendered by AMI. Upon exercise of the warrants AMI will be required to hold the shares acquired for a minimum of 6 months. Neptune expects to leverage most of the advertising services provided by American Media in the next twelve months.