NEWS: Greenlane Announces Pricing of $6.5 Million Private Placement Priced At-the-Market Under Nasdaq Rules
Greenlane Holdings (NASDAQ:GNLN), a leading global seller of premium cannabis accessories, has announced a $6.5 million private placement with a single institutional investor. The company will issue 2,363,637 units and pre-funded units, each consisting of one share of common stock (or pre-funded warrant) and two common warrants. The common warrants have an exercise price of $2.50 per share and will expire after 5 years.
The private placement is expected to close on August 13, 2024, subject to customary closing conditions. Greenlane plans to use the net proceeds for working capital and general corporate purposes. Aegis Capital Corp. is acting as the Exclusive Placement Agent, with legal counsel provided by Sichenzia Ross Ference Carmel LLP for Greenlane and Kaufman & Canoles, P.C. for Aegis Capital Corp.
The private placement is expected to close on August 13, 2024, subject to customary closing conditions. Greenlane plans to use the net proceeds for working capital and general corporate purposes. Aegis Capital Corp. is acting as the Exclusive Placement Agent, with legal counsel provided by Sichenzia Ross Ference Carmel LLP for Greenlane and Kaufman & Canoles, P.C. for Aegis Capital Corp.
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