Safety Shot rises after announcement of wellness unit spin-off

Bonk

26/09/2024 16:18

** Shares of wellness beverage company Safety Shot  SHOT.O 
rise 5% to $1.15 in morning trade
    ** Co announces divesture of its wellness unit to its
subsidiary, Caring Brands
    ** Says will focus on commercialization of its Safety Shot
dietary supplement
    ** Adds Caring Brands to go public via IPO within next three
months; SHOT to get 3 mln of Caring Brands stock as part of deal
    ** Up to Wednesday's close, SHOT down 68% YTD

 (Reporting by Anshuman Tripathy in Bengaluru)
 ((Anshuman.Tripathy@thomsonreuters.com;))