BOCA RATON, Fla.--(BUSINESS WIRE)--Apr. 17, 2019--
Greenlane Holdings, Inc. (“Greenlane”), a leading distributor of premium
vaporization products and consumption accessories, today announced the
pricing of its upsized initial public offering of 6,000,000 shares of
its Class A common stock at a public offering price of $17.00 per share.
The shares are expected to begin trading on the Nasdaq Global Market on
April 18, 2019 under the ticker symbol “GNLN.” Greenlane is offering
5,250,000 shares and the selling stockholders are offering 750,000
shares. In addition, the selling stockholders have granted the
underwriters a 30-day option to purchase up to an additional 900,000
shares of Class A common stock. The offering is expected to close on
April 23, 2019, subject to satisfaction of customary closing conditions.
Cowen and Canaccord Genuity are acting as joint-lead bookrunners for the
proposed offering. Ladenburg Thalmann & Co. Inc., Roth Capital Partners
and Northland Capital Markets are acting as co-managers for the proposed
This offering is being made only by means of a prospectus, copies of
which may be obtained from:
- Cowen and Company, LLC, c/o Broadridge Financial Services, 1155 Long
Island Avenue, Edgewood, NY 11717, Attn: Prospectus Department, or by
email to PostSaleManualRequests@broadridge.com.
- Canaccord Genuity LLC, Attention: Syndicate Department, 99 High
Street, 12th Floor, Boston, MA 02110, or by telephone at (617)
371-3900, or by email at email@example.com.
A registration statement relating to these securities was declared
effective by the Securities and Exchange Commission on April 17, 2019.
These securities may not be sold, nor may offers to buy be accepted,
prior to the time the registration statement becomes effective. This
press release shall not constitute an offer to sell or a solicitation of
an offer to buy, nor shall there be any sale of these securities in any
state or jurisdiction in which such an offer, solicitation or sale would
be unlawful prior to registration or qualification under the securities
laws of any such state or jurisdiction.
About Greenlane Holdings, Inc.
Greenlane is a leading distributor of premium vaporization products and
consumption accessories in the United States and has a growing presence
in Canada. Greenlane’s customers include over 6,600 independent smoke
shops and regional retail chain stores, which collectively operate
approximately 9,700 retail locations, and hundreds of licensed cannabis
cultivators, processors and dispensaries. Greenlane also owns and
operates two of the most visited North American direct-to-consumer
e-commerce websites in the vaporization products and consumption
accessories industry, VaporNation.com and VapeWorld.com,
which offer convenient, flexible shopping solutions directly to
consumers. Greenlane is developing a unique e-commerce platform, Vapor.com,
into which its existing e-commerce websites will be consolidated.
Through Greenlane’s expansive North American distribution network and
e-commerce presence, Greenlane offers a comprehensive selection of
premium vaporizers and parts, cleaning products, grinders and storage
containers, pipes, rolling papers and customized lines of premium
specialty packaging. Following the passage of The Agriculture
Improvement Act of 2018 in February 2019, Greenlane commenced
distribution of premium products containing hemp-derived cannabidiol in
those states in which the distribution and sale of such products are
authorized by, and can be effected in compliance with, applicable state
laws and regulations.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190417006055/en/
Source: Greenlane Holdings, Inc.
Scott Van Winkle