Greenlane Holdings, Inc. Enters into Definitive Agreements for $25.0 Million Private Placement

Greenlane Holdings, Inc. (NASDAQ: GNLN) recently announced that on February 18, 2025, it entered into definitive agreements with institutional investors for the acquisition of approximately $25.0 million worth of shares of the company’s Class A common stock at a price of $1.19 per Common Unit. The transaction was priced at the market under Nasdaq rules.

The offering involved the sale of Common Units (or Pre-Funded Units), each composed of a share of Common Stock or a Pre-Funded Warrant, a Series A PIPE Common Warrant, and a Series B PIPE Common Warrant. The Series A Warrants and Series B Warrants are exercisable following shareholder approval and have specific expiry terms.

Additionally, on the same day, Greenlane Holdings, Inc. inked an Exchange Agreement with certain holders to exchange existing warrants, totaling approximately 6.1 million new warrants. The terms of these agreements are detailed in the filings submitted to the SEC under Form 8-K.

Furthermore, the company issued a press release on February 18, 2025, disclosing the pricing of the Private Placement, which is expected to aid the company in repaying existing debt, supporting general corporate purposes, and managing working capital. The offering is anticipated to close on or around February 19, 2025, contingent upon customary closing conditions.

Aegis Capital Corp. was selected as the exclusive placement agent for the Private Placement, and Sichenzia Ross Ference Carmel LLP and Kaufman & Canoles, P.C. are acting as legal counsels in this transaction.

This Private Placement was not made through a public offering and the securities involved have not been registered under the Securities Act of 1933. Although Greenlane Holdings, Inc. has agreed to file registration statements for potential resale with the SEC, the offering is subject to specific limitations.

For additional details and the full scope of these agreements, interested parties can refer to the company’s Form 8-K filing with the SEC, which includes the relevant exhibits outlining the terms and agreements.

Investors and stakeholders have been informed that the company has set a record date of February 21, 2025, for a forthcoming special meeting, essential for approving matters related to the Private Placement. As of February 18, 2025, the Company currently has 2,620,147 shares of Class A common stock outstanding.

The company urges those interested to refer to the attached press release and the full SEC filing for detailed information on the terms and implications of these recent financial activities.

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This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Greenlane’s 8K filing here.

About Greenlane

Greenlane Holdings, Inc develops and distributes cannabis accessories, vape solutions, and lifestyle products in the United States, Canada, and Europe. It operates in two segments, Consumer Goods and Industrial Goods. The company provides consumption accessories, vaporizers, pipes, rolling papers, grinders, and apparel lines, as well as bubblers, rigs, other smoking and vaporization related accessories, and merchandise.