Greenlane Holdings Stock Price, News & Analysis

Greenlane Holdings (GNLN) and KushCo Holdings announce their enterprise leadership team following their proposed merger.

Nick Kovacevich will serve as CEO, while other key roles include Bill Mote as CFO and Aaron LoCascio as President. The leadership team aims to deliver revenue and cost synergies, enhance profitability, and maximize shareholder value.

The merger is expected to close by late Q2 or early Q3 2021, pending regulatory and stockholder approvals.

Greenlane Holdings and KushCo Holdings announced their leadership team following the planned merger, aimed at enhancing profitability and shareholder value. Nick Kovacevich will serve as CEO, with Bill Mote as CFO and Aaron LoCascio as President. The team also includes notable executives such as William Bine (COO) and Rhiana Barr (CPO). The merger is anticipated to conclude by late Q2 or early Q3 2021, pending regulatory approvals. This strategic move is positioned to create a leading ancillary cannabis company.

This press release details the merger agreement between Greenlane Holdings (NASDAQ: GNLN) and KushCo Holdings, marking a strategic consolidation in the cannabis ancillary sector. The deal is projected to yield over $250 million in pro forma revenue for 2020 and generate $15 to $20 million in cost synergies. The exchange ratio offers KushCo shareholders a 6.3% premium. The merger aims to enhance product offerings and expand market reach, with combined management expertise expected to drive growth, pending regulatory approvals.

Greenlane and KushCo have announced a merger agreement that will see KushCo become a wholly owned subsidiary of Greenlane. The transaction, expected to close in late Q2 or early Q3 2021, aims to create a leading ancillary cannabis company with a pro forma revenue exceeding $250 million for 2020. KushCo shareholders will receive approximately 0.2546 shares of Greenlane stock for each share they own, giving them about 49.9% of the combined entity. This merger is projected to yield $15-$20 million in annual cost-saving synergies and expand market opportunities across the cannabis supply chain.

Greenlane Holdings (GNLN) reported a 46.3% increase in revenue for FY 2020, totaling $138.3 million, despite a 25.2% decline from FY 2019. Core revenue rose 12.7% to $125.2 million and Greenlane branded sales jumped 50.5% to $7.8 million in Q4 2020. Merchandise gross margin improved to 28.2% from 15.7% in FY 2019. However, cash decreased by 36.3% year-over-year to $30.4 million. The company aims to enhance its revenue mix and cost structure while expanding its global distribution post-acquisition of Eyce.

Greenlane Holdings (NASDAQ: GNLN) announced a conference call scheduled for March 31, 2021, at 8:30 a.m. ET to discuss its financial results for the fourth quarter and year ended December 31, 2020. The call will follow the release of the financial results. Investors can access the call via a provided webcast link or by phone at (833) 519-1285 with Conference ID 1881585. A replay will be available until April 14, 2021. Greenlane is a leading seller of cannabis accessories and operates in multiple regions, serving over 6,000 customers globally.

Greenlane Holdings (NASDAQ: GNLN) has launched the VIBES™ Organic Hemp Rolling Papers and Cones Collection. This new product reflects a commitment to sustainability and enhancing the smoking experience for connoisseurs. Made from 100% organic hemp fibers and featuring organic Arabic gum for a natural seal, the line showcases a variety of sizes including 1 ¼, King Size Slim, and Cubano. Co-founder Berner emphasizes the superior quality of the product, aiming to cater to discerning smokers. The collection is available at select retailers with limited availability.

Greenlane Holdings (NASDAQ: GNLN) has acquired Eyce, a leader in specialty silicone smoking products, enhancing its portfolio of premium cannabis accessories. This strategic acquisition aims to drive revenue growth and profitability for Greenlane, with the company expressing confidence in the immediate accretive impact on its earnings. Eyce's established market presence and innovative product offerings align with Greenlane's goal to expand its brand footprint in the cannabis sector. The acquisition reflects Greenlane's commitment to acquiring high-quality brands to leverage growth opportunities.

Greenlane Holdings, Inc. (NASDAQ: GNLN) will participate in SXSW’s Featured Session titled ‘Celebrities Redefining Cannabis Entrepreneurship.’ Moderated by Eric Hammond, the panel includes notable figures like Berner (CEO of Cookies), Al Harrington (Viola Brands), and Flo Storch (Koko Nuggz). The discussion will explore the evolving cannabis industry, addressing social and economic disparities and highlighting successful collaborations with influential entrepreneurs. Greenlane has been Berner's partner since 2019, working on initiatives like the VIBES rolling papers and Cookies-branded accessories.