Greenlane Holdings, Inc. (Nasdaq: GNLN), a company focused on digital asset treasury, has announced a reverse stock split of its Class A common stock at a ratio of 1-for-8, effective as of 12:01 a.m. Eastern Time on April 6, 2026. This decision follows the approval from stockholders during a special meeting held on March 25, 2026, where they granted the board of directors the authority to select a reverse split ratio ranging from 1-for-5 to 1-for-15. The reverse stock split aims to enhance the perception of the company's common stock as an investment and to appeal to a broader range of investors while ensuring compliance with Nasdaq Listing Rule 5550(a)(2). After the split, the number of issued and outstanding shares will decrease from approximately 5,039,563 to about 629,945. The common stock will continue to trade under the symbol 'GNLN' on the Nasdaq Capital Market with a new CUSIP number, 395330 608. The company reassures that no fractional shares will be issued; instead, stockholders entitled to a fractional share will receive a cash payment equivalent to the fraction multiplied by the closing sales price of the common stock on April 2, 2026. This strategic move is expected to improve the company's market position and attract more investors.

Press Release distribution

National Press Distribution across U.S. Media. Direct Access to Key Decision Making Editors.