Greenlane Holdings, Inc. will implement a reverse stock split of its outstanding common shares at a 1-for-8 ratio, effective at 12:01 a.m. Eastern Time on April 6, 2026. The company's common stock will begin trading on a reverse stock split-adjusted basis when the market opens that day, continuing to trade on The Nasdaq Capital Market under the symbol "GNLN" with a new CUSIP number. This corporate action carries significant implications for current shareholders, potential investors, and the company's future market position.
The reverse stock split is designed to improve perception of Greenlane's common stock as an investment security, appeal to a broader range of investors, and maintain compliance with Nasdaq Listing Rule 5550(a)(2). For retail and institutional investors alike, this move signals management's commitment to preserving the company's public listing status while potentially making the stock more attractive to funds and investors who have minimum price requirements. The timing coincides with Greenlane's strategic focus on its Berachain-focused Digital Asset Treasury, positioning the company within the evolving digital asset ecosystem.
Following the reverse stock split, the number of issued and outstanding shares of Greenlane's common stock will decrease from approximately 5,039,563 to approximately 629,945. The reverse stock split will not change the authorized number of shares of Greenlane's common stock. No fractional shares will be issued in connection with the reverse stock split, with stockholders who would otherwise be entitled to receive fractional shares instead receiving cash payments equal to the fraction multiplied by the closing sales price of Greenlane's common stock as reported on The Nasdaq Capital Market on April 2, 2026.
The reverse stock split will also apply to Greenlane's common stock issuable upon the exercise or conversion of certain outstanding warrants and stock options, with proportionate adjustments made to exercise and conversion prices in accordance with respective terms. This ensures consistency across all equity instruments and protects the economic interests of warrant and option holders. Stockholders approved the reverse stock split at a special meeting held on March 25, 2026, granting the board discretionary authority to select a ratio ranging from 1-for-5 to 1-for-15 shares. The board subsequently approved the 1-for-8 ratio on the same date.
Equiniti Trust Company, LLC is acting as the exchange agent and paying agent for the reverse stock split. Stockholders holding shares in book-entry form or brokerage accounts need not take any action. Those with physical certificates will receive instructions from Equiniti regarding the exchange process. For procedural questions, stockholders are encouraged to contact their financial institutions rather than the company directly. Additional information about Greenlane's operations and strategic direction can be found at https://investor.gnln.com, while details about the Berachain blockchain network that forms the core of Greenlane's digital asset treasury strategy are available at https://berachain.com.
The company's forward-looking statements acknowledge risks including the unpredictability of trading markets, general economic conditions, and the success of its digital asset treasury strategy. These factors could impact whether the reverse stock split achieves its intended effects of improving stock perception and maintaining Nasdaq compliance. The action represents a critical juncture for Greenlane as it navigates both traditional market requirements and its positioning within the emerging digital asset sector, with implications for shareholder value and corporate stability in competitive financial markets.
