Greenlane Regains Nasdaq Compliance; Berachain Investor Caps Warrant Conversion at 4.99%
Greenlane Holdings regained compliance with Nasdaq’s minimum bid price requirement under Listing Rule 5550(a)(2), ensuring its Class A stock stays listed on the Nasdaq Capital Market. Board extended warrant lock-ups and Berachain Investment will convert pre-funded warrants up to 4.99% ownership with no conversions or sales for 12 months.
1. Regains Compliance with Nasdaq Requirement
On April 27, Greenlane Holdings regained compliance with Nasdaq Listing Rule 5550(a)(2) by meeting the minimum bid price requirement, ensuring its Class A stock remains listed and traded on the Nasdaq Capital Market. The company is now in compliance with all applicable continued listing standards.
2. Board Extends Warrant Lock-Up Periods
Members of the board voluntarily extended the lock-up periods on their warrants, reinforcing insider alignment with long-term shareholder interests and supporting stock price stability.
3. Berachain Investment Corporation’s Conversion Commitment
Berachain Investment Corporation, the largest PIPE financing participant, has elected to convert pre-funded warrants only up to its current 4.99% beneficial ownership limit, with no further conversions or sales of underlying shares for at least 12 months, signaling strategic support for Greenlane’s Berachain-focused treasury strategy.