Jupiter Wellness postpones distribution of shares of SRM Entertainment

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 has been delayed. The previously announced distribution to be paid on or about July 12 and the previously announced trading date of SRM Common Stock on the Nasdaq Capital Market of on or about July 13 has been delayed until SRM’s Registration Statement on Form S-1 as amended, relating to shares of SRM Common Stock has been declared effective by the U.S. Securities and Exchange Commission and the listing of the SRM Common Stock on Nasdaq has been approved by Nasdaq. The previously announced record date of July 7, 2023, will remain the same. The Company remains intent on effectuating the distribution as soon as it may do so in compliance with federal securities laws and appropriate regulatory approval. The Company will update its stockholders with respect to the distribution payment date when circumstances so permit.