Trulieve Completes Move to Delaware

Trulieve Cannabis Corp. completed its redomicile from British Columbia to Delaware on August 11, 2026, the company announced, making the Florida-headquartered cannabis operator a U.S. corporation after years of being organized in Canada. Delaware made the necessary filings effective August 11, 2026, one day after the Supreme Court of British Columbia issued its final order approving the move.

Shareholders had approved the plan at a special meeting on August 5, 2026. The company’s subordinate voting shares continue to trade on the New York Stock Exchange under the ticker TRLV.

“Redomiciling to the United States marks an exciting new chapter for our company, expanding access to U.S. investors and enhancing eligibility for broader index inclusion,” said Trulieve CEO Kim Rivers in the announcement. “As one of the industry’s leading cannabis operators, we are thrilled to align our corporate structure with where we operate, invest, and serve our patients.”

The company had first announced the proposal on May 13, 2026, describing a plan of arrangement that would continue the company out of British Columbia and domesticate it in Delaware. At the time, Trulieve said Delaware’s corporate environment would further its strategic objectives and align its organizational structure with U.S. operations, and that the move was not expected to cause any material change in its business or operations.

A Three-Step Approval Process

The path to completion ran through three gates, each now cleared. The board put the plan before shareholders with a record date of June 8, 2026, with a proxy statement to be filed with the U.S. Securities and Exchange Commission and on SEDAR+ shortly after, per the May 13, 2026 announcement. Shareholders voted at the August 5, 2026 special meeting, the British Columbia court signed off August 10, 2026, and the Delaware filings took effect the following day.

When the plan was announced in May 2026, completion remained conditional on shareholder approval, the court’s order, authorization from the British Columbia registrar, and other customary consents. The board also reserved discretion to abandon the arrangement even after a shareholder vote. None of those contingencies materialized: the vote, the court order, and the Delaware effectiveness all landed within six days.

A Corporate Buildout Months in the Making

The redomicile closes out a restructuring sequence that has reshaped Trulieve’s corporate footprint in 2026. In June 2026, the company became the first U.S. cannabis operator to list on the NYSE, moving its shares off the Canadian Securities Exchange and the OTCQX market where they traded when the domestication plan was first announced. The listing followed the federal rescheduling of state-licensed medical marijuana to Schedule III, and the company has since filed applications to register its medical marijuana operations with the Drug Enforcement Administration.

The quarter also brought the deconsolidation of Harvest mixed medical and adult-use state operations on June 3, 2026, a transaction that drove a $403.3 million loss on deconsolidation and left Trulieve reporting medical-only operations for the remainder of June. The company holds a $152.5 million investment in Harvest on its June 30, 2026 balance sheet.

Trulieve’s second-quarter results, reported August 7, 2026, showed revenue of $271 million at a 60% gross margin, with 94% of revenue from retail sales. Adjusted EBITDA came in at $98 million, or 36% of revenue, and cash stood at $325 million at quarter end. The GAAP net loss attributable to common shareholders was $406 million, almost entirely the Harvest deconsolidation impact. The company now operates 207 retail dispensaries and 3.5 million square feet of cultivation and processing capacity, with established medical marijuana operations in Florida, Georgia, Pennsylvania, and West Virginia.

What Changes for Trulieve Shareholders

The trading mechanics stay identical: the same subordinate voting shares, the same NYSE ticker, no interruption. What changes is the corporate law governing the company and, by the company’s own account, the pool of investors able to hold the stock. Rivers framed the move around expanding access to U.S. investors and improving eligibility for broader index inclusion, the same rationale the company gave when it joined the exchange in June 2026.

The company had also told shareholders in May 2026 to expect no material change in business or operations from the move, a characterization this week’s completion announcement leaves standing. Trulieve continues to report under U.S. GAAP as an SEC filer, as it did while British Columbia-organized, with parallel filings on Canada’s SEDAR+ system.

With the Delaware filings effective, the structure Trulieve outlined in May 2026 is now the one it operates under: a U.S.-domiciled, NYSE-listed company whose corporate home finally matches the four states where it grows, processes, and sells medical cannabis.