Greenlane Holdings Stock Price, News & Analysis

Greenlane Holdings (NASDAQ:GNLN) has closed a $25.0 million private placement of Common Stock and investor warrants at $1.19 per Common Unit. The offering included 21,008,405 Common Units, each comprising one share of Common Stock or Pre-Funded Warrant, plus two types of warrants: Series A and Series B.

The Series A Warrants have an exercise price of $1.4875 with a 5-year term, while Series B Warrants are priced at $2.975 with a 2.5-year term. Both warrant series will be exercisable following stockholder approval.

The company plans to use the proceeds for debt repayment, general corporate purposes, and working capital. Aegis Capital Corp. served as the exclusive placement agent for this private transaction, which closed on February 19, 2025.

Greenlane Holdings (NASDAQ:GNLN) has secured definitive agreements with institutional investors for a $25.0 million private placement priced at $1.19 per Common Unit. The offering includes Common Units consisting of one share of Common Stock or Pre-Funded Warrant, plus two types of warrants: Series A warrants with an exercise price of $1.4875 (5-year term) and Series B warrants with an exercise price of $2.975 (2.5-year term).

The transaction is expected to close around February 19, 2025. The company plans to use the proceeds for repaying existing debt, general corporate purposes, and working capital. Aegis Capital Corp. serves as the exclusive placement agent. The securities are being sold in a private placement to accredited investors and will require registration with the SEC for resale.

Greenlane Holdings (NASDAQ:GNLN) has regained full compliance with Nasdaq Listing Rule 5605(c)(2) following the appointment of Michael C. Howe as an independent director and audit committee member on December 31, 2024. This appointment resolves all previously announced deficiencies in Nasdaq continued listing requirements.

Howe brings over 40 years of consumer and healthcare experience, having held management positions at Procter & Gamble and PepsiCo, and CEO roles at Arby's and MinuteClinic. His notable achievement includes expanding MinuteClinic from 19 locations to over 530 during his tenure, culminating in its acquisition by CVS in 2006. Howe's expertise spans commercial strategy, operations, and business development, with a focus on branding, marketing, and organizational development.

Greenlane Holdings (Nasdaq: GNLN) has signed an exclusive U.S. distribution agreement with Green Gruff USA to enter the canine CBD supplements market. Green Gruff offers veterinarian-approved organic CBD-infused supplements and treats for dogs, manufactured in the U.S.

The products, developed by pet industry professionals and veterinarians, include non-GMO, pesticide-free, broad-spectrum hemp leaf supplements. These will be available through Greenlane's online retail platforms (vapor.com, puffitup.com, higherstandards.com) and wholesale portal.

Green Gruff currently serves over 1,000 dispensaries, and this partnership aims to expand their reach while diversifying Greenlane's product offerings. The agreement positions Greenlane to capitalize on the growing U.S. demand for legal CBD pet products, potentially generating incremental revenue.

Greenlane Holdings (NASDAQ:GNLN) has appointed Rob Shields as its new Chief Growth Officer (CGO), effective January 1, 2025. Shields, who has been consulting for Greenlane since October 2024, brings over 30 years of experience in growing consumer and business technology brands. Previously, he served as President and Country Head at MOOMOO Financial Canada and held senior positions at Questrade, where he managed 227 marketing and sales professionals.

In his new role, Shields will lead strategic growth initiatives, focusing on expanding market reach, driving business development, and enhancing customer relationships. His appointment comes as part of Greenlane's efforts to evolve its business in response to changing consumer and category trends.

Greenlane Holdings (NASDAQ:GNLN) has appointed Rob Shields as its new Chief Growth Officer. Shields brings over 30 years of experience in growing consumer and business technology brands. Previously serving as President and Country Head at MOOMOO Financial Canada and Chief Marketing, Customer Experience & Sales Officer at Questrade, Shields will now lead strategic growth initiatives focusing on expanding Greenlane's market reach and driving business development.

At Questrade, he managed 227 marketing and sales professionals and oversaw operations for over $30 billion in assets. His prior experience includes senior positions at Paymi, Pinpoint Marketing Partners, Canadian Tire , Hudson's Bay Company, and Aeroplan. Shields has been serving as a consultant for Greenlane before this appointment.

Greenlane Holdings (NASDAQ:GNLN) has announced the distribution of Toxi Shield iodine tablets, manufactured by Safety Strips, Inc. These potassium iodide (KI) tablets are designed to protect the thyroid gland during radiation emergencies, such as nuclear accidents. The tablets are produced in a GMP-certified facility in the USA.

This product addition aligns with Greenlane's diversification strategy, targeting health, safety, and wellness markets. The company secured an exclusive distribution agreement with Safety Strips, Inc., enabling global shipping capabilities. The move comes amid increased nuclear safety concerns following Russia's invasion of Ukraine and growing nuclear power adoption by tech companies.

Greenlane Holdings (NASDAQ:GNLN) has signed an exclusive multi-year global distributor agreement with CURB Lifestyle to distribute their patented non-heating inhalation device. The device, which uses ultrasonic vibrations to create a fine mist, can safely deliver nicotine, cannabinoids, and wellness compounds. Starting mid-December, CURB products will be available through Greenlane's online retail storefronts and wholesale portal. The device features 100% water-soluble technology, ensuring purity and efficacy while minimizing health risks. Both companies will explore developing lifestyle products with wellness formulas for vitamins, workout supplements, sleep aid, and stress relief applications.

Greenlane Holdings (NASDAQ:GNLN) has entered into a multi-year distribution agreement with Veriteque USA to distribute SwabTek™ and Verifique™ field test kits in the United States. These kits are designed for detecting narcotics, explosives, gunshot residue, and other harmful substances. Veriteque's San Diego facility can produce hundreds of thousands of tests daily and currently supplies major retailers like Walgreens and Rite Aid, thousands of U.S. schools, EU airports, and law enforcement agencies. The tests feature a safe dry paper and swab format, providing instant results through a simple single-step process.