Greenlane Holdings, Inc. (NASDAQ: GNLN) has closed a $110 million private placement supported by the Berachain Foundation and led by Polychain Capital with participation from major cryptocurrency investors including Blockchain.com, Kraken, North Rock Digital, CitizenX, and dao5. The financing consists of approximately $50 million in cash and stablecoin investment combined with $59.5 million in BERA tokens, representing one of the most significant corporate treasury allocations to digital assets in recent market history.
The company issued 3,328,012 Class A shares and 9,789,166 pre-funded warrants to cash and stablecoin investors, along with 15,504,902 pre-funded warrants to cryptocurrency investors subject to stockholder approval. Additionally, 5,264,757 strategic advisor warrants were issued as part of the comprehensive financing package. Following the transaction, Greenlane now holds 54,227,042 BERA tokens valued at approximately $108 million based on Binance's 24-hour volume-weighted average price as of October 23, 2025.
This substantial investment signals growing institutional confidence in blockchain-based assets as viable corporate treasury instruments. The participation of established cryptocurrency exchanges and investment firms demonstrates mainstream financial acceptance of digital assets beyond speculative trading. Greenlane plans to utilize the proceeds to execute its digital asset treasury strategy with BERA tokens serving as its primary reserve asset while continuing operations of its core distribution business.
Key stakeholders including company directors, officers, the Berachain Foundation, and Polychain Capital have entered into 180-day lock-up agreements, providing market stability and demonstrating long-term commitment to the company's strategic direction. The company also announced leadership changes with the appointment of Bruce Linton as Chairman and Billy Levy as director, bringing additional expertise to guide the company's evolving financial strategy.
Aegis Capital Corp. served as exclusive placement agent for the transaction, with legal counsel provided by Kaufman & Canoles, P.C., Sichenzia Ross Ference Carmel LLP and Paul Hastings LLP. The successful completion of this private placement represents a significant milestone in corporate adoption of digital assets and may influence other public companies considering similar treasury diversification strategies. For additional corporate information, visit https://gnln.com/ while investment community resources are available through https://www.InvestorWire.com.
The transaction's structure, combining traditional equity instruments with cryptocurrency assets, establishes a potential blueprint for future corporate financing in the evolving digital economy. This development comes as more companies explore blockchain technology integration and digital asset allocation as part of comprehensive financial management strategies, potentially reshaping corporate treasury management standards across multiple industries.
