Welcome to our dedicated page for Greenlane Holdings news (Ticker: GNLN), a resource for investors and traders seeking the latest updates and insights on Greenlane Holdings stock.
Greenlane Holdings Inc. (NASDAQ: GNLN) maintains its position as a leading distributor of premium cannabis accessories and vaporization products through strategic partnerships and operational excellence. This news hub provides investors and industry professionals with essential updates about the company's financial performance, product innovations, and market expansions.
Access real-time announcements including quarterly financial results, distribution agreements, product line expansions, and regulatory compliance developments. Our curated collection ensures you stay informed about material events affecting this established player in cannabis lifestyle markets.
Key updates cover earnings reports, leadership changes, brand acquisitions, and operational milestones. The resource serves as a centralized tracking point for GNLN's evolving position in specialty retail distribution across North America and Europe.
Bookmark this page for streamlined access to Greenlane's official communications and third-party analysis. Regular updates ensure you maintain current awareness of developments impacting this NASDAQ-listed distributor's market trajectory.
Greenlane Holdings (NASDAQ:GNLN) has announced a one-for-11 reverse stock split of its Class A common stock, effective August 5, 2024. This move is primarily aimed at maintaining Nasdaq listing compliance. The reverse split will reduce the number of issued and outstanding shares from approximately 5.8 million to 0.5 million. Greenlane's stockholders approved this action at a special meeting on July 29, 2024, authorizing the board to implement a split ratio between one-for-two and one-for-20. The board chose the one-for-11 ratio on July 23, 2024. This action will affect all outstanding shares, options, restricted stock awards, warrants, and other securities, with adjustments made accordingly. No fractional shares will be issued, and stockholders entitled to fractional shares will receive rounded-up whole numbers.
Greenlane Holdings, Inc. (NASDAQ:GNLN) CEO Barbara Sher provided a corporate update in a letter to shareholders. Key points include:
- The global smoking accessories market is projected to reach $86.54 billion by 2031, growing at a CAGR of 3.70%
- Greenlane has regained compliance with Nasdaq listing requirements
- The company is reducing SG&A costs and streamlining operations
- Greenlane is working to restructure existing debt obligations to increase financial flexibility
- The company is realigning its sales and marketing organization to accelerate growth
- Greenlane is focusing on reinvigorating existing partnerships and creating new opportunities
Greenlane Holdings (NASDAQ: GNLN) announced that on May 21, 2024, it received a Nasdaq notification of non-compliance with Listing Rule 5250(c)(1) due to its failure to timely file its Quarterly Report on Form 10-Q for Q1 2024.
The company had previously received a similar notice on April 18, 2024, for not filing its Annual Report on Form 10-K for FY 2023. Greenlane has until June 17, 2024, to submit a plan to regain compliance. If accepted, Nasdaq may grant up to an additional 180 days to meet the requirements. Failure to comply could result in delisting.
Greenlane is working to submit the necessary filings as soon as possible. However, there is no assurance that the filings will be made within the 60-day window.
FAQ
What is the current stock price of Greenlane Holdings (GNLN)?
What is the market cap of Greenlane Holdings (GNLN)?
