Greenlane Holdings to Implement 1-for-8 Reverse Split, Cuts Outstanding Shares to 630K
Greenlane Holdings will effect a 1-for-8 reverse stock split on April 6, 2026, reducing its outstanding shares from approximately 5.04 million to about 629,945. Fractional shares will be cashed out and warrant and option prices will adjust proportionately to maintain Nasdaq compliance and broaden investor appeal.
1. Reverse Split Procedure
Greenlane will combine every eight shares of its common stock into one share effective at 12:01 a.m. ET on April 6, 2026, adjusting the CUSIP number and trading on a split-adjusted basis under the same ticker. Outstanding shares will fall from about 5,039,563 to roughly 629,945.
2. Fractional Shares and Adjustments
No fractional shares will be issued; stockholders entitled to fractions will receive cash equal to the fraction multiplied by the closing price on April 2, 2026. The split extends to warrants and stock options, with proportional adjustments to exercise and conversion prices under existing equity incentive plan terms.
3. Compliance and Investor Appeal
Approved by shareholders on March 25, 2026, this reverse split aims to enhance the common stock’s perception as an investment security, attract a broader investor base and ensure continued compliance with Nasdaq Listing Rule 5550(a)(2). Shareholders holding book-entry or brokerage shares need not take action.