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

Greenlane Holdings, Inc. (NASDAQ: GNLN) has successfully closed a $110 million private placement that combines traditional and cryptocurrency investment approaches. The financing package consists of approximately $50 million in cash and stablecoin investments alongside $59.5 million in BERA tokens, with support from the Berachain Foundation and leadership from Polychain Capital. The transaction represents a significant milestone in bridging traditional corporate finance with emerging digital asset strategies.

The investment consortium includes prominent cryptocurrency industry participants such as Blockchain.com, Kraken, North Rock Digital, CitizenX, and dao5, among others. In exchange for their investments, the company issued 3,328,012 Class A shares and 9,789,166 pre-funded warrants to cash and stablecoin investors. Additionally, cryptocurrency investors received 15,504,902 pre-funded warrants, subject to stockholder approval, while strategic advisors were granted 5,264,757 warrants. This diverse capital structure reflects the hybrid nature of the financing, combining traditional equity instruments with cryptocurrency-based assets.

As a result of this transaction, Greenlane 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. The substantial BERA token acquisition positions the company as a major holder of this digital asset and signals a strategic shift toward incorporating cryptocurrency reserves into corporate treasury management. The company plans to utilize the proceeds to execute its digital asset treasury strategy with BERA serving as its primary reserve asset while maintaining its core distribution business operations.

The transaction includes significant governance provisions, with directors, officers, the Berachain Foundation, and Polychain Capital entering into 180-day lock-up agreements. These lock-ups provide stability to the company's shareholder base during the initial implementation phase of its new digital asset strategy. Concurrent with the financing, Greenlane appointed Bruce Linton as Chairman and Billy Levy as director, bringing additional leadership expertise to guide the company through its strategic evolution.

Aegis Capital Corp. served as the 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 involvement of established financial and legal institutions underscores the transaction's compliance with regulatory standards and corporate governance best practices. For additional details about the company's operations and brand portfolio, visit https://gnln.com/.

This financing represents a notable development in corporate treasury management, demonstrating how established companies can integrate digital assets into their financial strategies. The participation of major cryptocurrency exchanges and investment firms validates the growing acceptance of digital assets within mainstream corporate finance. The transaction may influence other public companies considering similar digital asset treasury strategies, potentially accelerating the adoption of cryptocurrency reserves across various industries.