Business Operations and Organization (Tables)

9 Months Ended

Sep. 30, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Stockholders Equity

The following table sets forth the economic and voting interests of holders of Greenlane’s Common Stock as of the date of this Quarterly Report on Form 10-Q:


Class of Common Stock (ownership)						Total Shares ⁽¹⁾						Class A Shares (as converted) ⁽²⁾						Economic Ownership in the Operating Company ⁽³⁾						Voting Interest in Greenlane ⁽⁴⁾						Economic Interest in Greenlane ⁽⁵⁾
Class A (purchasers in the IPO)						6,450,000						6,450,000						15.4		%				6.9		%				64.5		%
Class A (former convertible note holders) ⁽⁵⁾						3,547,776						3,547,776						8.5		%				3.8		%				35.5		%
Class B (non-founder members)						5,988,485						5,988,485						14.3		%				6.4		%				—		%
Class C (founder members)						77,791,218						25,930,406						61.9		%				83.0		%				—		%
Total						93,777,479						41,916,667						100.0%						100.0%						100.0		%


(1) Represents the total number of shares of a particular class of Greenlane's Common Stock held as of the date of this Quarterly Report on Form 10-Q.
(2) Represents the number of shares of Greenlane's Class A common stock that will be held outstanding assuming the exchange of all outstanding shares of Class B common stock and Class C common stock upon redemption of Common Units. Shares of Class B common stock and Class C common stock, as the case may be, will be canceled, without consideration, on a one-to-one basis in the case of the Class B common stock pursuant to the terms of the Operating Agreement.
(3) Represents the indirect economic interest in the Operating Company through the holders' ownership of Common Stock.
(4) Represents the aggregate voting interest in Greenlane through the holders' ownership of Common Stock. Each share of Class A common stock, Class B common stock and Class C common stock entitles its holder to one vote per share on all matters submitted to a vote of Greenlane's stockholders.
(5) Represents shares of Class A common stock issued to the prior holders of convertible notes upon conversion of such convertible notes at a settlement price equal to 80% of the IPO price.