Greenlane stock soars 45% after $110M PIPE for Berachain crypto strategy

Investing.com -- Greenlane Holdings (NASDAQ:GNLN) stock surged 45% after the company announced a $110 million private placement to implement a Berachain cryptocurrency treasury strategy.

The company disclosed that the private investment in public equity (PIPE) transaction is being led by Polychain Capital with participation from several prominent investors including Blockchain.com, Kraken, North Rock Digital, CitizenX, and dao5. The financing consists of approximately $50 million in cash or cash equivalents and about $60 million in BERA tokens.

Following the transaction’s expected closing on October 23, 2025, Greenlane plans to use the proceeds to acquire BERA, the native cryptocurrency of the Berachain blockchain, which will serve as the company’s primary treasury reserve asset. BERA is the fee token of Berachain, described as the first Layer 1 blockchain powered by Proof of Liquidity.

The company’s new Berachain Treasury Strategy, called BeraStrategy, will be led by Ben Isenberg, who will be appointed Chief Investment Officer upon completion of the transaction. Additionally, Bruce Linton will join the board as Chairman and Billy Levy as Director.

"We firmly believe that BERA is ushering in the next age of blockchain incentive structures. As a result, we believe it provides a compelling opportunity in the capital markets," said Bruce Linton, who previously led Canopy Growth Corporation to a $15 billion market capitalization.

The PIPE transaction involves the sale of Greenlane’s Class A common stock and/or pre-funded warrants at a purchase price of $3.84 per share and $3.83 per pre-funded warrant.

Greenlane will continue operating its distribution business while implementing its new treasury strategy, with plans to provide regular updates on BERA acquisitions and treasury performance.

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