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Greenlane Holdings, Inc. (NASDAQ:GNLN) ("Greenlane"), a global seller of premium cannabis accessories, child-resistant packaging, and specialty vaporization products, today announced that it will effect a one-for-11 reverse stock split ("reverse split") of its Class A common stock, par value $0.01 per share ("Class A common stock"), that will become effective on August 5, 2024 at 12:01 AM Eastern Time, before the opening of trading on The Nasdaq Capital Market ("Nasdaq"). Greenlane has requested that Greenlane's Class A common stock begin trading on August 5, 2024, on a post-reverse split basis on the Nasdaq under the existing symbol "GNLN."
The reverse split is primarily intended to bring Greenlane into compliance with the minimum bid price requirement for maintaining its listing on the Nasdaq. The new CUSIP number for the Class A common stock following the reverse split will be 395330400.
Posted In: GNLN
