Greenlane Holdings Secures $110 Million Private Placement Backed by Berachain Foundation and Crypto Investors
TL;DR
Greenlane's $110 million private placement positions the company with significant BERA token holdings, creating a strategic advantage in digital asset treasury management over competitors.
Greenlane issued shares and warrants totaling $110 million in cash, stablecoins, and BERA tokens, with proceeds allocated to digital asset treasury strategy and ongoing distribution operations.
This funding strengthens Greenlane's ability to serve global customers with premium products while pioneering responsible digital asset integration in corporate treasury management.
Greenlane secured major crypto backing from Polychain Capital and others, now holding over 54 million BERA tokens valued at approximately $108 million for its treasury strategy.
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Greenlane Holdings, Inc. (NASDAQ: GNLN) has closed a $110 million private placement supported by the Berachain Foundation and led by Polychain Capital with participation from Blockchain.com, Kraken, North Rock Digital, CitizenX, dao5 and other cryptocurrency investors. The financing consists of approximately $50 million in cash and stablecoin investment along with $59.5 million in BERA tokens, representing one of the significant corporate treasury allocations to digital assets in recent months.
The company issued 3,328,012 Class A shares and 9,789,166 pre-funded warrants to cash and stablecoin investors, while cryptocurrency investors received 15,504,902 pre-funded warrants subject to stockholder approval. Additionally, the company issued 5,264,757 strategic advisor warrants as part of the comprehensive financing package. Following the transaction, Greenlane now holds 54,227,042 BERA tokens valued at approximately $108 million based on Binance's 24-hour volume-weighted average price as of October 23, 2025.
Greenlane plans to utilize the proceeds to execute its digital asset treasury strategy with BERA tokens serving as its primary reserve asset while continuing operations of its established distribution business. The strategic shift toward digital asset treasury management represents a significant evolution for the company, which has historically focused on smoking accessories and vape device distribution through its family of brands and e-commerce platforms including Vapor.com, PuffItUp.com, and HigherStandards.com.
Key participants in the financing, including directors, officers, the Berachain Foundation and Polychain Capital, have entered into 180-day lock-up agreements, providing stability to the company's shareholder base during the initial implementation phase of its new treasury strategy. The company also announced leadership changes with the appointment of Bruce Linton as Chairman and Billy Levy as director, signaling a strengthened governance structure to oversee the expanded digital asset focus.
Aegis Capital Corp. served as exclusive placement agent for the transaction, with legal counsel provided by Kaufman & Canoles, P.C., Sichenzia Ross Ference Carmel LLP and Paul Hastings LLP. The substantial investment from established cryptocurrency entities like Blockchain.com and Kraken, accessible through their respective platforms at https://www.blockchain.com and https://www.kraken.com, underscores institutional confidence in Greenlane's strategic direction and the broader digital asset ecosystem.
The transaction demonstrates growing corporate interest in digital assets as treasury reserves, with Greenlane's significant BERA token allocation representing a notable case study for traditional companies exploring cryptocurrency integration. While maintaining its core distribution business through platforms including https://www.gnln.com, the company's pivot toward digital asset treasury management could influence how other publicly-traded companies approach cryptocurrency adoption and balance sheet diversification strategies.
Curated from InvestorBrandNetwork (IBN)
