Who Owns AWH Company?

AWH Bundle

Get Full Bundle:

	5 FORCES	$15	$10
	BCG	$15	$10
	CANVAS	$15	$10
	4P's MIX	$15	$10
	PESTLE	$15	$10
	SWOT	$15	$10

TOTAL:

ADD TO CART

Who Owns Ascend Wellness Holdings?

Understanding Ascend Wellness Holdings' ownership is key to grasping its strategic direction and market standing. The company's journey from a private startup to a public entity has reshaped its investor base and governance.

Ascend Wellness Holdings, Inc. (AWH) transitioned to public ownership through its IPO in May 2021. This move opened the company to a wider array of investors, influencing its corporate structure and future growth.

As of August 18, 2025, Ascend Wellness Holdings has a market capitalization of approximately $136 million, with 203 million shares outstanding. This reflects its position in the dynamic cannabis industry, where factors like its AWH PESTEL Analysis can significantly impact its performance.

Ascend Wellness Holdings (AWH) was co-founded in 2018 by Abner Kurtin and Frank Perullo. Kurtin, as Executive Chairman and Founder, brought extensive experience in capital management, having previously established K Capital Partners and Ca2 Group. Perullo, a Co-Founder, served as President and Director, significantly contributing to the company's initial growth and retail strategy.

Founding Year

Ascend Wellness Holdings was established in 2018.

Key Leadership Roles

Abner Kurtin serves as Executive Chairman, while Frank Perullo is President and Director.

Founder Expertise

Kurtin's background includes managing multi-billion dollar hedge funds and real estate development.

Early Strategy Focus

Perullo was instrumental in the company's initial retail expansion strategy.

Initial Ownership Details

Specific initial equity splits and shareholding percentages for the founders are not publicly detailed.

Publicly Available Information

Information on early backers, angel investors, or specific early agreements is not explicitly detailed in public records.

While the precise initial equity distribution among the founders of Ascend Wellness Holdings is not publicly disclosed, their immediate assumption of leadership roles suggests a foundational ownership structure reflecting their shared vision for a vertically integrated cannabis operation. Details regarding early investors, such as angel investors or friends and family who participated in the initial funding rounds, along with any specific early agreements like vesting schedules or buy-sell clauses, are not readily available in public records. Similarly, there have been no widely reported instances of initial ownership disputes or buyouts.

Founders of AWH Company

The company was co-founded by Abner Kurtin and Frank Perullo in 2018, establishing the core leadership from its inception.

• Abner Kurtin: Executive Chairman and Founder with extensive experience in capital management.
• Frank Perullo: Co-Founder, President, and Director, crucial in early retail expansion.
• The founding team's expertise laid the groundwork for AWH's strategic direction.
• Understanding the founders' backgrounds is key to grasping the company's initial trajectory, as detailed in the Brief History of AWH.

AWH SWOT Analysis

• Complete SWOT Breakdown
• Fully Customizable
• Editable in Excel & Word
• Professional Formatting
• Investor-Ready Format

GET TEMPLATE ➔

The ownership structure of the AWH Company underwent a significant transformation with its Initial Public Offering (IPO) on May 4, 2021. This event marked a shift from private to public ownership, bringing increased transparency and regulatory oversight.

Following its IPO, the AWH Company's ownership landscape is diverse, reflecting a mix of institutional and public stakeholders. As of August 13, 2025, institutional investors hold a substantial portion of the shares, indicating significant backing from managed funds and investment firms. Individual investors and company insiders also maintain a stake, alongside holdings by hedge fund managers and private equity/venture capital firms. The majority of shares, however, are held by the broader public and other entities, underscoring the company's status as a publicly traded entity. This broad ownership base influences the company's governance and strategic direction, as it must now cater to the interests of a wide array of shareholders. Notably, as of March 10, 2025, AGP Partners, LLC and Abner Kurtin are recognized as beneficial owners with control or direction over more than 10% of the voting rights, highlighting key influential stakeholders within the AWH Company's corporate structure.

Key Ownership Details

Understanding the AWH Company ownership is crucial for investors and stakeholders. The company's transition to public trading has broadened its investor base and introduced new dynamics to its corporate governance.

• The AWH Company completed its IPO on May 4, 2021, generating $80,000,000 in gross proceeds.
• Shares began trading on the Canadian Securities Exchange (CSE) under the ticker 'AAWH.U' and OTCQX® Best Market (AAWH).
• As of August 13, 2025, institutional investors hold 18.5% of the company's shares.
• AGP Partners, LLC and Abner Kurtin are beneficial owners with over 10% voting rights as of March 10, 2025.
• The company's public trading status means its Target Market of AWH is influenced by a diverse shareholder base.

AWH PESTLE Analysis

• Covers All 6 PESTLE Categories
• No Research Needed – Save Hours of Work
• Built by Experts, Trusted by Consultants
• Instant Download, Ready to Use
• 100% Editable, Fully Customizable

GET TEMPLATE ➔

The governance of Ascend Wellness Holdings is overseen by its Board of Directors, comprising individuals with significant roles in the company's strategic direction. Key members include Abner Kurtin, the Executive Chairman and Founder, and Frank Perullo, a Co-Founder and President. Samuel Brill, appointed CEO in August 2024, also serves as a Director, having previously been the Lead Independent Director.

Ascend Wellness Holdings utilizes a dual-class share structure to manage voting power, a critical aspect of understanding AWH Company ownership. This structure differentiates between Class A and Class B common stock, with Class B shares carrying significantly more voting weight. As of March 10, 2025, Class A common shares accounted for 76% of the total voting rights, while Class B common shares represented 24%. This arrangement allows holders of Class B shares, such as Abner Kurtin and AGP Partners, LLC, to maintain substantial influence over corporate decisions, impacting the overall AWH Group ownership dynamics.

Understanding Voting Power at AWH

The voting power within Ascend Wellness Holdings is concentrated due to its dual-class share system. This structure is fundamental to who owns AWH and how decisions are made.

• Class A common stock grants one vote per share.
• Class B common stock grants 1,000 votes per share.
• Class B shares are convertible into Class A shares.
• This structure impacts AWH Company management team's accountability.
• Understanding this is key for AWH Company investor relations.

AWH Business Model Canvas

• Complete 9-Block Business Model Canvas
• Effortlessly Communicate Your Business Strategy
• Investor-Ready BMC Format
• 100% Editable and Customizable
• Clear and Structured Layout

GET TEMPLATE ➔

Ascend Wellness Holdings (AWH) has experienced significant leadership transitions and financial maneuvers in recent years, impacting its ownership landscape. These changes reflect a strategic focus on operational efficiency and financial stability within the evolving U.S. cannabis market.

Financially, AWH has demonstrated consistent positive operating cash flow, reporting $5.9 million in Q1 2025 and $17.8 million in Q2 2025. The company ended Q1 2025 with $100.0 million in cash and cash equivalents and successfully retired a $60 million term loan in Q2 2025. AWH also initiated a share buyback program, signaling confidence in its financial health and future prospects. These financial achievements occur amidst a growing U.S. cannabis market, projected to reach nearly $45 billion in sales by 2025, with increasing public support for legalization at 88%. While 2024 saw subdued merger and acquisition (M&A) activity, 2025 is anticipated to bring a surge in M&A, potentially influencing AWH's ownership structure through strategic acquisitions or partnerships, as explored in the Competitors Landscape of AWH.

Leadership Evolution

Recent leadership changes, including the appointment of Samuel Brill as CEO and Francis Perullo as President, aim to steer the company through its next phase of growth.

Financial Resilience

AWH has maintained nine consecutive quarters of positive operating cash flow, underscoring its financial stability and operational efficiency.

Strategic Financial Actions

The company's strategic refinancing and share buyback program demonstrate a proactive approach to capital management and shareholder value.

Market Dynamics and Ownership Trends

Anticipated M&A activity in the expanding U.S. cannabis market could lead to shifts in AWH's ownership profile through potential consolidation or strategic alliances.

AWH Porter's Five Forces Analysis

• Covers All 5 Competitive Forces in Detail
• Structured for Consultants, Students, and Founders
• 100% Editable in Microsoft Word & Excel
• Instant Digital Download – Use Immediately
• Compatible with Mac & PC – Fully Unlocked

GET TEMPLATE ➔