Greenlane Holdings, Inc. will implement a reverse stock split of its outstanding common shares at a 1-for-8 ratio, effective April 6, 2026. The company's common stock will begin trading on a split-adjusted basis at market opening that day on The Nasdaq Capital Market under the symbol "GNLN." This corporate action aims to enhance the stock's perception as an investment security, attract a wider investor base, and ensure compliance with Nasdaq Listing Rule 5550(a)(2). The reverse stock split will reduce Greenlane's issued and outstanding shares from approximately 5,039,563 to about 629,945.
Stockholders approved the action at a special meeting on March 25, 2026, granting the board authority to select a ratio between 1-for-5 and 1-for-15 shares. The board subsequently approved the 1-for-8 ratio on the same date. The split will not alter the authorized number of shares, and no fractional shares will be issued. Instead, stockholders entitled to fractional shares will receive cash payments based on the closing price of Greenlane's common stock on April 2, 2026. Adjustments will also apply to certain outstanding warrants and stock options, with proportional changes to exercise and conversion prices as per their terms.
Equiniti Trust Company, LLC serves as the exchange and paying agent for the transaction. Most stockholders holding shares in book-entry or brokerage accounts need not take action, though those with physical certificates will receive instructions from Equiniti. For more procedural details, stockholders can consult their financial institutions or visit investor.gnln.com. Greenlane, which operates a Berachain-focused Digital Asset Treasury, continues to face risks outlined in its regulatory filings, including market unpredictability and economic conditions.
The company's forward-looking statements emphasize ongoing efforts to maintain Nasdaq compliance, as detailed in its Annual Report on Form 10-K for 2025 and subsequent Quarterly Reports on Form 10-Q. Additional information about Berachain, the blockchain network central to Greenlane's strategy, is available at berachain.com. This reverse split is a strategic move to stabilize the company's market position and align with long-term financial goals, reflecting broader trends in corporate restructuring within volatile sectors.
