2023-06-29 09:35:15 ET
- Cannabis and lifestyle products company Greenlane Holdings ( NASDAQ: GNLN ) said on Thursday that it priced an ~$4M public offering of 3.81M units at $1.05 per unit.
- Each unit consists of one class A share and two warrants, each exercisable for one class A share at $1.05 per share.
- The offering is expected to close on or about July 3.
- The net proceeds are intended to be used for working capital and general corporate purposes.
- The company has agreed with existing investors who participated in the offering to reduce the exercise price of the outstanding warrants to purchase up to 1.67M shares.
- The shares were issued during the October 2022 public offering and June 2022 registered direct offering.
- The prices were reduced from $9.00 per share and $50.00 per share, respectively, to $1.05 per share.
- Source: Press Release
For further details see:
Greenlane prices ~$4M public offering of units