Jupiter Wellness announces payment date for distribution of SRM stock

Jupiter Wellness announced that the payment date for the distribution of shares of common stock, par value $0.0001 per share, of SRM Entertainment, currently a majority-owned subsidiary of the Company, to effect the spin-off of the SRM business is expected be on August 3, 2023. The payment date remains subject to SRM’s Registration Statement on Form S-1, as amended being declared effective by the U.S. Securities and Exchange Commission, the approval of the listing of the SRM Common Stock on the Nasdaq Capital Market and the receipt of certain other approvals in connection with the offering. In the event that such Registration Statement is not declared effective or the SRM Common Stock is not approved for listing, the distribution will not be paid on such date and the spin-off transaction will not occur. The Company anticipates that the SRM Common Stock will begin trading on Nasdaq on August 4, 2023.