Greenlane Holdings, Inc. (NASDAQ:GNLN) has entered into a definitive agreement with a single institutional investor, for the purchase and sale of 21.6 million shares of its common stock and warrants to purchase 21.6 million shares of common stock at a purchase price per share of $0.25 in a registered direct offering.
The warrants to be issued will have five and one-half year term, will become exercisable six months following the date of issuance and will have an exercise price of $0.25 per share.
