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BOCA RATON - Greenlane Holdings, Inc. (NASDAQ:GNLN) announced Tuesday it will implement a one-for-750 reverse stock split of its Class A common stock, effective June 26, 2025, after market close. The company, currently valued at $9.4 million, has seen its stock decline nearly 99% over the past year, according to InvestingPro data.
The cannabis accessories company’s stock is expected to begin trading on a post-split basis on June 27 under its existing "GNLN" symbol on the Nasdaq Capital Market. The primary purpose of the reverse split is to bring Greenlane into compliance with Nasdaq’s minimum bid price requirement. While the company maintains a healthy current ratio of 2.25 and holds more cash than debt, InvestingPro analysis indicates the company is quickly burning through its cash reserves. Subscribers can access 15+ additional ProTips and detailed financial metrics.
Greenlane stockholders approved the measure at a special meeting on June 16, authorizing the board to implement a reverse split at a ratio ranging from 1-for-250 to 1-for-750. The board selected the maximum ratio of 1-for-750 on June 12.
The reverse split will reduce Greenlane’s outstanding Class A common shares from approximately 1.04 billion to about 1.39 million. The action will not change the authorized number of shares or the $0.01 par value per share.
All outstanding options, restricted stock awards, warrants and other securities will be adjusted accordingly. Stockholders entitled to fractional shares will receive shares rounded up to the next whole number.
Greenlane, founded in 2005, distributes premium smoking accessories, vape devices, and lifestyle products through various channels including its e-commerce platforms Vapor.com, PuffItUp.com, and others.
The information in this article is based on a company press release statement.
In other recent news, Greenlane Holdings, Inc. announced the issuance of additional shares following the exercise of warrants, resulting in a total of 319,816,671 shares of common stock outstanding. This development stems from the company’s private placement completed in February 2025, which included pre-funded and Series B warrants. The increase in shares reflects a change in Greenlane’s capital structure and could have implications for its market value and shareholder equity. Additionally, Greenlane shareholders approved a reverse stock split, allowing the board to implement a split ratio ranging from one-for-three to one-for-twenty-two within a year. In another strategic move, Greenlane renewed its distribution agreement with PAX Labs, ensuring continued distribution of PAX’s vaporizers across the United States. This partnership aims to leverage Greenlane’s distribution capabilities to enhance market access for PAX’s products. Furthermore, Greenlane inked a distribution deal with Greentank Technologies, aiming to introduce Greentank’s vaporization devices to the U.S. market. This agreement is expected to expand Greenlane’s product offerings with Greentank’s award-winning technology. These recent developments highlight Greenlane’s efforts to strengthen its market presence and product portfolio.
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