Greenlane Granted Continued Listing from Nasdaq Hearings Panel, Subject to Return to Compliance with Nasdaq Listing Rules
- Panel granted extension for continued Nasdaq listing instead of immediate delisting
- Panel rejected public interest concerns regarding Series B warrants issuance
- Company has clear timeline and requirements to maintain listing
- Company must implement reverse stock split which typically indicates financial distress
- Stock price has fallen below $1.00 minimum requirement
- Risk of delisting remains if compliance conditions are not met by July 11, 2025
Insights
Greenlane avoids immediate delisting but must execute reverse split by June 27 to maintain Nasdaq listing.
Greenlane Holdings has secured a temporary reprieve from Nasdaq delisting, but faces strict compliance deadlines. The company failed to maintain the minimum $1.00 bid price requirement and received an additional delisting notice related to warrants issued in February. The Nasdaq Hearings Panel has granted Greenlane a conditional extension with three critical requirements:
1. Obtain shareholder approval for a reverse stock split by June 16, 2025
2. Implement the reverse split and achieve a minimum closing bid of $1.00 by June 27, 2025
3. Maintain a closing price above $1.00 for at least 10 consecutive business days by July 11, 2025
The timeline is extremely compressed, giving Greenlane just two weeks to secure shareholder approval and execute the reverse split. While the Panel dismissed concerns about the Series B warrants (rejecting Nasdaq Staff's public interest determination), the fundamental issue remains the company's prolonged trading below $1.00.
Reverse splits are technically neutral events that consolidate shares without changing underlying value, but they often signal deeper financial challenges and frequently lead to continued share price erosion after implementation. The aggressive timeframe suggests urgency in Greenlane's situation, leaving minimal room for setbacks or delays in the approval or implementation process.
BOCA RATON, FL / ACCESS Newswire / June 2, 2025 / Greenlane Holdings, Inc. ("Greenlane" or the "Company") (NASDAQ:GNLN), one of the premier global sellers of premium cannabis accessories, child-resistant packaging, and specialty vaporization products, today announced today announced that the Nasdaq Hearings Panel ("Panel") has granted the Company's request for an extension to evidence compliance with all applicable criteria for continued listing on The Nasdaq Capital Market.
As previously reported by Greenlane on its current report on Form 8-K, on April 2, 2025, the Listing Qualifications Department (the "Nasdaq Staff") of the Nasdaq Stock Market ("Nasdaq") issued a determination to the Company, which was communicated through a delisting notice (the "Delisting Notice"), indicating that the Company did not satisfy the minimum
The Nasdaq hearing on the matter was held on May 15, 2025. During the Hearing, Greenlane presented an overview of its current and ongoing strategic initiatives aimed at enhancing shareholder value and regaining compliance with the Minimum Bid Price Rule.
On May 30, 2025, the Panel issued its determination (the "Panel Determination Letter") to the Company, granting the Company's request for the continued listing of the Company's common shares on Nasdaq, but subject to the Company's evidencing compliance with the following: (i) on or before June 16, 2025, the Company must obtain shareholder approval for a reverse stock split at a ratio sufficient to achieve compliance with the Bid Price Rule; (ii) on or before June 27, 2025, the Company must effect a reverse stock split and achieve a minimum closing bid price of
About Greenlane Holdings, Inc.
Founded in 2005, Greenlane is a premier global platform for the development and distribution of premium smoking accessories, vape devices, and lifestyle products to thousands of producers, processors, specialty retailers, smoke shops, convenience stores, and retail consumers. We operate as a powerful family of brands, third-party brand accelerator, and an omnichannel distribution platform.
We proudly offer our own diverse brand portfolio and our exclusively licensed Marley Natural and K.Haring branded products. We also offer a carefully curated set of third-party products through our direct sales channels and our proprietary, owned and operated e-commerce platforms which include Vapor.com, , PuffItUp.com, HigherStandards.com, Wholesale.Greenlane.com and MarleyNaturalShop.com.
For additional information, please visit: https://investor.gnln.com. For additional information, please visit: https://gnln.com/.
Investor Contact:
or
TraDigital IR
Kevin McGrath
+1-646-418-7002
kevin@tradigitalir.com
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 concerning Greenlane and other matters. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "expects," "plans," "anticipates," "could," "intends," "targets," "projects," "contemplates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these terms or other similar expressions. The forward-looking statements in this press release are only predictions. Greenlane has based these forward-looking statements largely on its current expectations and projections about future events and financial trends that it believes may affect its business, financial condition and results of operations. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. You should carefully consider the risks and uncertainties that affect our business, including those described in our filings with the Securities and Exchange Commission ("SEC"), including under the caption "Risk Factors" in Greenlane's Annual Report on Form 10-K filed for the year ended December 31, 2023 and the Company's other filings with the SEC, which can be obtained on the SEC website at www.sec.gov. These forward-looking statements speak only as of the date of this communication. Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements, whether as a result of any new information, future events or otherwise. You are advised, however, to consult any further disclosures we make on related subjects in our public announcements and filings with the SEC.
SOURCE: Greenlane Holdings, Inc.
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