Greenlane Holdings, Inc. (Nasdaq: GNLN), a company with a Berachain-focused Digital Asset Treasury, announced it will effect a reverse stock split of its outstanding common stock at a ratio of 1-for-8, effective as of 12:01 a.m. Eastern Time on April 6, 2026. The company's common stock will begin trading on a split-adjusted basis at the market open on that date, under the same symbol "GNLN" but with a new CUSIP number, 395330 608.
The reverse stock split is intended to improve the 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), which requires a minimum bid price of $1.00 per share. The move follows stockholder approval at a special meeting on March 25, 2026, where the board was given discretion to select a ratio between 1-for-5 and 1-for-15. The board subsequently approved the 1-for-8 ratio on the same day.
As a result of the split, the number of issued and outstanding shares will be reduced from approximately 5,039,563 to about 629,945. The authorized number of shares will remain unchanged. No fractional shares will be issued; instead, stockholders who would otherwise receive a fractional share will receive a cash payment equal to that fraction multiplied by the closing price on April 2, 2026. The split will also apply to warrants and stock options, with proportionate adjustments to exercise and conversion prices.
Equiniti Trust Company, LLC is serving as the exchange and paying agent. Stockholders holding shares in book-entry form or through brokerage accounts need not take any action. Those with physical certificates will receive instructions from Equiniti regarding the exchange process. Greenlane encourages stockholders to contact their bank, broker, or custodian with procedural questions.
This reverse stock split is a critical step for Greenlane as it navigates its transformation into a digital asset treasury company with a focus on BERA, the native asset of the Berachain blockchain. The company also continues a reduced-scale wholesale and distribution business via an asset-light drop-ship model. Berachain is described as a decentralized, EVM-compatible layer-1 blockchain using a Proof of Liquidity consensus mechanism.
Forward-looking statements in the press release highlight risks including the unpredictability of trading markets, the company's digital asset strategy, and its ability to maintain Nasdaq compliance. Interested parties can find more information on Greenlane's investor relations page at investor.gnln.com and on Berachain at berachain.com.
