Business
Greenlane Holdings, Inc. Announces Closing of $7.5 Million Public Offering
BOCA RATON, FL / ACCESSWIRE / November 1, 2022 / Greenlane Holdings, Inc. ("Greenlane" or the "Company") (NASDAQ:GNLN), one of the largest global sellers of
About this update from Greenlane Holdings, Inc.
[{"type":"text","content":"BOCA RATON, FL / ACCESSWIRE / November 1, 2022 / Greenlane Holdings, Inc. (\"Greenlane\" or the \"Company\") (NASDAQ:GNLN), one of the largest global sellers of premium cannabis accessories, child-resistant packaging, and specialty vaporization products, is pleased to announce that it has closed its previously announced \"reasonable best efforts\" public offering of 8,333,335 units at a public offering price of $0.90 per unit. The units issued consist of one share of Class A common stock (or a prefunded warrant in lieu thereof) and two common warrants each exercisable for one share of Class A common stock at an exercise price of $0.90 per share. The common warrants are immediately exercisable and expire seven years from the date of issuance. The pre-funded warrants and accompanying common warrants are identical to the units, except that each pre-funded warrant is immediately exercisable for one share of Class A common stock at an exercise price of $0.0001, the purchase price for a pre-funded warrant and accompanying common warrants is $0.8999 and the pre-funded warrants do not expire until exercised.The gross proceeds from the offering, before deducting the placement agent's fees and other offering expenses, were approximately $7.5 million. The Company intends to use the net proceeds from the offering for general corporate purposes,which may include, without limitation, servicing debt obligations under promissory notes issued in conjunction with business acquisitions, working capital, product development and capital expenditures.A.G.P./Alliance Global Partners acted as the sole placement agent for the offering.A registration statement on Form S-1 (File No. 333-267782) relating to the sale of these securities was declared effective by the Securities and Exchange Commission (the \"SEC\") on October 27, 2022. The offering was made only by means of a prospectus which is a part of the effective registration statement. A final prospectus relating to the offering has been filed with the SEC. Electronic copies of the final prospectus may be obtained on the SEC's website at http://www.sec.gov and may also be obtained by contacting A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, or by telephone at (212) 624-2060, or by email at [email protected] press release shall not constitute an offer t...