Greenlane Holdings Secures $110 Million Private Placement Backed by Berachain Foundation and Major Crypto Investors

Greenlane Holdings, Inc. (NASDAQ: GNLN) has successfully closed a $110 million private placement that represents a significant strategic shift toward digital asset integration. The financing package consists of approximately $50 million in cash and stablecoin investments combined with $59.5 million in BERA tokens, demonstrating strong support from the cryptocurrency sector. This substantial investment was backed by the Berachain Foundation and led by Polychain Capital, with participation from prominent crypto entities including Blockchain.com, Kraken, North Rock Digital, CitizenX, and dao5.

The company issued 3,328,012 Class A shares and 9,789,166 pre-funded warrants to cash and stablecoin investors, while cryptocurrency investors received 15,504,902 pre-funded warrants subject to stockholder approval. Additionally, Greenlane issued 5,264,757 strategic advisor warrants as part of the comprehensive financing arrangement. Following this transaction, the company now holds 54,227,042 BERA tokens valued at approximately $108 million based on Binance's 24-hour volume-weighted average price as of October 23, 2025. This substantial token position establishes BERA as the cornerstone of Greenlane's digital asset treasury strategy.

Proceeds from the private placement will be allocated toward executing Greenlane's digital asset treasury strategy while maintaining continuity in its established distribution business operations. The strategic importance of this financing extends beyond capital infusion, representing a fundamental evolution in how traditional companies approach treasury management and reserve assets. Directors, officers, the Berachain Foundation, and Polychain Capital have entered into 180-day lock-up agreements, providing market stability and demonstrating long-term commitment to the company's strategic direction.

Concurrent with the financing, Greenlane has appointed Bruce Linton as Chairman and Billy Levy as director, signaling strengthened governance and strategic oversight during this transitional period. Aegis Capital Corp. served as exclusive placement agent for the transaction, with legal counsel provided by Kaufman & Canoles, P.C., Sichenzia Ross Ference Carmel LLP, and Paul Hastings LLP. The successful completion of this substantial private placement during a period of market volatility underscores investor confidence in Greenlane's strategic vision and execution capabilities.

This transaction represents one of the largest private placements involving both traditional equity and cryptocurrency components in recent market history, potentially setting a precedent for other companies considering similar hybrid financing structures. The involvement of established cryptocurrency exchanges and investment firms validates the growing convergence between traditional corporate finance and digital asset strategies. For more information about the company, visit https://gnln.com/.