RegulatoryApr 27, 2026, 08:38 AM
GNLN Regains Nasdaq Compliance; Warrants Locked Up
AI Summary
Greenlane Holdings, Inc. announced it has regained compliance with Nasdaq's minimum bid price requirement, preventing the delisting of its Class A common stock. The previously scheduled delisting hearing has been cancelled, and the company's shares will continue to trade on The Nasdaq Capital Market. Additionally, Berachain Investment Corporation will convert a portion of its pre-funded warrants into 33,085 shares, while select strategic advisor warrant holders have agreed to a lock-up until April 2027, signaling confidence in the company's long-term strategy.
Key Highlights
- GNLN regained compliance with Nasdaq Listing Rule 5550(a)(2) minimum bid price requirement.
- Nasdaq delisting hearing scheduled for May 5, 2026, has been cancelled.
- Berachain Investment Corporation (BIC) to convert 33,085 pre-funded warrants into common stock.
- BIC's conversion maintains beneficial ownership at no more than 4.99% of outstanding shares.
- BIC holds 1,476,464 pre-funded warrants from the October 2025 $110M PIPE financing.
- Holders of 162,760 Strategic Advisor Warrants entered lock-up agreements until April 23, 2027.
- Total outstanding Strategic Advisor Warrants are 658,092.
Price Impact
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