$VRHID · Veri MedTech Holdings, Inc.
Veri Medtech Holdings filed Amendment No. 6 to its S-1 for a firm commitment IPO of 3,750,000 shares at an assumed $4.00 per share, targeting approximately $15 million in gross proceeds. The company operates a medical marijuana card concierge platform through its Veriheal subsidiary and is seeking to uplist from OTC (VRHI) to the Nasdaq Capital Market. Revenue has declined from approximately $17 million in FY2024 to $11 million in FY2025, with H1 2026 revenue of $4.48 million versus $6.12 million in H1 2025.
- Offering 3,750,000 shares at assumed $4.00/share, targeting ~$15M in gross proceeds via firm commitment underwriting.
- Revenue declined from ~$17M (FY2024) to ~$11M (FY2025); H1 2026 revenue of ~$4.48M vs. ~$6.12M in H1 2025.
- Net loss widened from ~$409K (FY2024) to ~$2.32M (FY2025); H1 2026 net loss of ~$496K.
- OTC-traded under VRHI; last reported price $5.00 as of September 11, 2026; uplisting to Nasdaq Capital Market contingent on approval.
- Series A Preferred Stock holds 80% voting power, controlled by CEO and President; company will be a 'controlled company' post-IPO.
Price data unavailable.
A declining-revenue cannabis-tech company with a dual-class control structure is attempting a Nasdaq IPO — a rare combination that tests investor appetite for both the sector and the story.
This is a cannabis-tech services IPO attempting a Nasdaq uplisting from OTC, joining a small cohort of cannabis-adjacent companies that have accessed public markets. The declining revenue trajectory contrasts with the growth narrative typically expected in IPO filings.
Revenue is declining sharply — FY2025 fell ~35% YoY to ~$11M and H1 2026 is down ~27% vs. H1 2025. The company operates in the federally illegal cannabis-adjacent space, creating banking, regulatory, and enforcement risk. Dual-class voting structure (Series A Preferred at 80% voting power) entrenche
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