Business
Greenlane and KushCo Complete Merger, Creating Leading Ancillary Cannabis Company and House of Brands
Implements strong executive leadership team and appoints three new directors Positioned to deliver incremental value to customers across the cannabis supply
About this update from Greenlane Holdings, Inc.
[{"type":"text","content":"Implements strong executive leadership team and appoints three new directors Positioned to deliver incremental value to customers across the cannabis supply chain with best-in-class proprietary brands and exclusive third-party offerings Well positioned to support accelerated industry innovation, accretive M&A, and robust organic growth BOCA RATON, Fla., Sept. 01, 2021 (GLOBE NEWSWIRE) -- Greenlane Holdings, Inc. (“Greenlane” or “the Company”) (Nasdaq: GNLN) and KushCo Holdings, Inc. (''KushCo'') (OTCQX: KSHB) today announced the completion of their previously announced merger (“the Transaction”). The combined company, operating as Greenlane, brings together two of the pioneering cannabis ancillary product and service companies with more than 26 years of operating history to create an undisputed leader in the cannabis industry. The Company’s Class A common stock (“Greenlane Shares”) will continue to trade on the Nasdaq Global Market under the ticker symbol “GNLN”. Each KushCo stockholder is entitled to receive 0.3016 of a Greenlane Share for each share of KushCo common stock held on August 31, 2021, the effective date of the Transaction. Holders of Greenlane Shares prior to the completion of the Transaction will continue to hold their Greenlane Shares with no adjustment as a result of the Transaction. KushCo’s common stock has ceased trading on the OTCQX effective as of the close of trading on August 31, 2021. Management Commentary “I am proud to announce the successful closing of our transformative merger and would like to thank our combined teams for all of their hard work over the past few months,” said Nick Kovacevich, Chief Executive Officer of Greenlane. “As we turn the page to an exciting new chapter as Greenlane, I am more confident than ever in our ability to build the industry’s leading ancillary cannabis company by leveraging our size, scale, strategy, and talent to take advantage of the significant growth opportunities that lie ahead. The substantial progress both companies have made in our combined 26 years of history positions us at the forefront of a rapidly evolving landscape. I look forward to the road ahead with our new colleagues and am excited to report our continued progress in the months and years to come.” “I am thrilled by the strong support our customers, employees, and shareholders have shown for this tr...