Greenlane Holdings, Inc. (Nasdaq: GNLN), a company with a Berachain-focused Digital Asset Treasury, announced it will effect a 1-for-8 reverse stock split of its outstanding common stock, effective 12:01 a.m. Eastern Time on April 6, 2026. The reverse stock split is intended to improve the perception of the Company's common stock as an investment security, appeal to a broader range of investors, and maintain compliance with Nasdaq Listing Rule 5550(a)(2), which requires a minimum bid price of $1.00 per share.
Following the reverse stock split, Greenlane's common stock will continue trading on The Nasdaq Capital Market under the symbol "GNLN" with a new CUSIP number, 395330 608. The reduction in outstanding shares from approximately 5,039,563 to about 629,945 is expected to proportionally increase the stock price. The reverse stock split will not change the authorized number of shares of common stock.
No fractional shares will be issued; stockholders who would otherwise receive a fractional share will instead receive a cash payment equal to the fraction multiplied by the closing sales price of Greenlane's common stock on April 2, 2026. Additionally, the reverse stock split will apply to shares issuable upon exercise or conversion of outstanding warrants and stock options, with proportionate adjustments to exercise and conversion prices.
The reverse stock split was approved by Greenlane's stockholders at a special meeting on March 25, 2026, which granted the board of directors discretionary authority to select a ratio between 1-for-5 and 1-for-15. The board approved the 1-for-8 ratio on the same day. Equiniti Trust Company, LLC is acting as exchange agent and paying agent; stockholders holding shares in book-entry form or brokerage accounts need not take any action.
Greenlane's digital asset treasury strategy focuses on BERA, the native digital asset of the Berachain blockchain network. Berachain is a decentralized, open-source, EVM-compatible layer-1 blockchain that uses a Proof of Liquidity consensus mechanism. For more information, visit investor.gnln.com or berachain.com.
