Greenlane Holdings Implements 1-for-8 Reverse Stock Split to Meet Nasdaq Requirements

Greenlane Holdings, Inc. announced it will effect a reverse stock split of its outstanding shares of common stock at a ratio of 1-for-8, effective as of 12:01 a.m. Eastern Time on April 6, 2026. The company's common stock will begin trading on a reverse stock split-adjusted basis at the market opening on that date, continuing to trade on The Nasdaq Capital Market under the symbol "GNLN" with a new CUSIP number, 395330 608. This corporate action is intended to improve 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).

The reverse stock split will reduce the number of issued and outstanding shares of Greenlane's common stock from approximately 5,039,563 to approximately 629,945. While the authorized number of shares remains unchanged, no fractional shares will be issued in connection with the reverse stock split. Stockholders who would otherwise be entitled to receive a fractional share will instead receive a cash payment equal to such fraction multiplied by the closing sales price of Greenlane's common stock as reported on The Nasdaq Capital Market on April 2, 2026. The reverse stock split will also apply to Greenlane's common stock issuable upon the exercise or conversion of certain outstanding warrants and stock options, with proportionate adjustments made to exercise and conversion prices in accordance with respective terms.

Greenlane's stockholders approved the reverse stock split at a special meeting held on March 25, 2026, granting the board of directors discretionary authority to select a ratio ranging from 1-for-5 to 1-for-15 shares. The board subsequently approved the 1-for-8 ratio on the same date. Equiniti Trust Company, LLC is acting as the exchange agent and paying agent for the reverse stock split. Stockholders holding shares in book-entry form or brokerage accounts need not take any action, while those with certificates will receive instructions from Equiniti regarding the exchange process for post-reverse stock split ownership.

The company's strategic focus centers on BERA, the native digital asset of the Berachain blockchain network, which is described as a decentralized, open-source, EVM-compatible layer-1 blockchain engineered for high throughput and low latency. For more information about Greenlane's digital asset treasury activities, visit investor.gnln.com. Additional details about the Berachain ecosystem can be found at berachain.com. The company continues to operate a reduced-scale wholesale and distribution business through an asset-light drop-ship model alongside its digital asset treasury operations.

This announcement carries significant implications for current and potential investors, as reverse stock splits are typically implemented by companies seeking to boost their stock price to meet exchange listing requirements or improve market perception. The reduction in outstanding shares increases the per-share price while maintaining the same market capitalization, potentially making the stock more attractive to institutional investors who may have minimum price requirements for investments. The timing of this corporate action suggests Greenlane is proactively addressing compliance concerns while positioning itself for future growth within the evolving digital asset ecosystem centered around Berachain's blockchain technology.