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Greenlane Holdings Soars 14.29% on Reverse Stock Split
Generated by AI AgentAinvest Pre-Market Radar
Thursday, Jun 26, 2025 4:11 am ET1min read
Greenlane Holdings' stock surged 14.29% in pre-market trading on June 26, 2025, driven by significant corporate developments.
Greenlane Holdings has announced a one-for-750 reverse stock split of its Class A common stock, effective June 26, 2025. This move is aimed at meeting the minimum bid price requirement for continued listing on the Nasdaq. The reverse stock split will reduce the number of outstanding shares from approximately 1.04 billion to 1.39 million, while the company's equity interests remain unchanged. The new CUSIP for the stock is 395330509, and the change will take effect on June 27, 2025, under the same ticker, GNLN. No fractional shares will be issued, and stockholders will receive rounded-up shares to the nearest whole number.
The decision to implement the reverse stock split was approved by Greenlane's board and shareholders. This strategic move is expected to enhance the company's financial stability and compliance with Nasdaq's listing requirements, potentially attracting more investors and boosting market confidence.
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