Quantum BioPharma warrants expire, confirms CVR record date

Quantum BioPharma Ltd. (NASDAQ: QNTM) announced that 53,147 warrants held by hedge funds and investment funds expired at 5 p.m. EST. The warrants were originally issued as part of financing completed on October 20, 2020.

The biopharmaceutical company confirmed October 27, 2025 as the record date for distributing contingent value rights to holders of its Class B Subordinate Voting Shares on a one-for-one basis.

Each CVR will entitle holders to receive between 10% and 50% of net proceeds from the company's legal action against CIBC World Markets, RBC Dominion Securities, and others. The lawsuit alleges stock price manipulation and spoofing and seeks damages exceeding $700 million.

The CVRs will not be listed on any exchange, are non-transferable and carry no voting rights. Payment will only occur if Quantum BioPharma receives net proceeds from the litigation through settlement or final judgment. The company stated there is no guarantee that any proceeds will be received or payments made.

The distribution date for the CVRs remains undetermined as it depends on receiving proceeds from the litigation.

Quantum BioPharma develops treatments for neurodegenerative and metabolic disorders and alcohol misuse disorders. The company's lead compound, Lucid-MS, is designed to prevent and reverse myelin degradation in multiple sclerosis.

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