Greenlane Holdings, Inc., a company with a Berachain-focused Digital Asset Treasury, announced a reverse stock split of its outstanding common stock at a 1-for-8 ratio, effective 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.
The reverse stock split aims to improve perception of Greenlane's common stock as an investment security, appeal to a broader range of investors, and maintain compliance with Nasdaq Listing Rule 5550(a)(2). This strategic move comes as the company seeks to strengthen its market position while navigating the evolving digital asset landscape. The reduction in outstanding shares from approximately 5,039,563 to approximately 629,945 represents a significant structural change that could influence investor perception and trading dynamics.
At a special meeting of stockholders held on March 25, 2026, Greenlane's stockholders approved the reverse stock split and granted 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. The reverse stock split will not change the authorized number of shares of Greenlane's common stock, and no fractional shares will be issued. Stockholders entitled to receive fractional shares will instead receive cash payments equal to the 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 their respective terms. Equiniti Trust Company, LLC serves 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.
This corporate action reflects Greenlane's ongoing strategic focus centered on BERA, the native digital asset of the Berachain blockchain network. Berachain is a decentralized, open-source, EVM-compatible layer-1 blockchain engineered for high throughput, low latency, and full compatibility with Ethereum tooling, smart contracts, and infrastructure. More information about Berachain can be found at https://berachain.com.
The reverse stock split represents a critical step for Greenlane as it works to maintain its Nasdaq listing while positioning itself within the competitive digital asset treasury sector. For investors, this action may signal management's commitment to improving shareholder value and meeting exchange requirements, though it also reflects the challenges facing companies operating at the intersection of traditional finance and emerging digital asset ecosystems. The company's continued operation of a reduced-scale wholesale and distribution business through an asset-light drop-ship model provides additional context for understanding its broader business strategy.
