Greenlane anounces $98mn IPO

By hotmaillogin

Florida-based vaporization product manufacturer Greenlane Holdings, Inc announced this week that it has priced its upsized initial public offering of 6mn shares of Class A stock at US$17 per share. The offering is expected to result in Greenlane achieving a valuation in excess of $98mn.

The shares are expected to begin trading on the Nasdaq Global Market on April 18, 2019 under the ticker symbol “GNLN.”

Founded in 2005, Greenlane is a leading distributor of vaporization products and consumption accessories in the United States and has a growing presence in Canada. Greenlane’s customers include over 6,600 independent smoke shops and regional retail chain stores, which collectively operate approximately 9,700 retail locations, and hundreds of licensed cannabis cultivators, processors and dispensaries.

SEE ALSO: 

Greenlane also owns and operates two of the most visited North American direct-to-consumer e-commerce websites in the vaporization products and consumption accessories industry, VaporNation.com and VapeWorld.com.

According to a MarketWatch report, Greenlane’s IPO will make it the closest thing to a US based cannabis company trading on a major US exchange. Cannabis company Tilray already trades on the Nasdaq but is headquartered in Canada.

Share
Share

Featured Articles

Broadridge study reveals huge impact of AI on C-suite

Broadridge Financial Solutions spoke to 500 C-suite executives from across the globe, many of whom said AI was significantly changing the way they work

PwC's Kathryn Kaminsky – the role of boards on social issues

As Vice Chair Trust Solutions Co-Leader at PwC, Kathryn Kaminsky says boards play an important role in helping businesses take action on social issues

Why your business needs a Chief Transformation Officer

Responsible for driving growth and change, the Chief Transformation Officer is the latest addition to the C-suite as business undergoes major change

12 top AI and ML trends for the enterprise in 2023 – Dataiku

Technology & AI

From NYC to Hong Kong, the rise of the private members' club

Leadership & Strategy

Meet the CEO: Jill Stelfox of Panzura, exclusive interview

Leadership & Strategy