TLDR
- Greenlane dives into crypto with $110M PIPE led by Polychain Capital.
- Company picks BERA token to anchor its new digital asset treasury.
- Stock dips 9% as investors weigh Greenlane’s blockchain strategy.
- Leadership revamp brings Bruce Linton to drive crypto expansion.
- Move marks bold pivot from cannabis roots to digital finance future.
Greenlane Holdings, Inc. (Nasdaq: GNLN) saw its stock drop nearly 9% to $3.49 in early trading.
Greenlane Holdings, Inc., GNLN
The decline followed the company’s announcement of a $110 million private investment in public equity (PIPE) transaction. Market response remained muted throughout the session, indicating uncertainty around the company’s new direction.
The PIPE deal, signed and priced today, introduces a significant shift in Greenlane’s capital management strategy. Led by Polychain Capital, the transaction features participation from Blockchain.com, Kraken, North Rock Digital, and others. The company confirmed it would use proceeds to build a digital asset treasury anchored by Berachain’s native token, BERA.
Greenlane’s management plans to reshape its financial model through digital asset holdings and on-chain ecosystem involvement. With the deal structured around cash and BERA token commitments, the company appears focused on capturing early crypto market value. This marks a distinct move away from its traditional cannabis and accessories distribution focus.
Greenlane Targets BERA as New Treasury Core
The company selected BERA as its principal treasury asset, aligning with its strategic shift toward blockchain-based yield generation. BERA, the fee token of the Berachain blockchain, powers transactions and incentivizes liquidity via Proof of Liquidity. Greenlane intends to use BERA for long-term reserves, growth, and treasury diversification.
Management emphasized BERA’s utility and ecosystem credibility as key drivers behind the allocation decision. The company plans to acquire BERA through both open-market and over-the-counter channels post-closing. Its treasury will operate transparently, tracking token holdings and performance metrics over time.
Greenlane aims to establish the largest public market-managed BERA position. The approach also aligns with Berachain’s push to engage institutional capital and expand its visibility. The company expects this transition to enhance exposure to decentralized finance and emerging blockchain infrastructure.
Leadership Overhaul Strengthens Institutional Strategy
Greenlane will restructure its executive team following the transaction’s completion, signaling a deeper commitment to capital market operations. Bruce Linton, former CEO of Canopy Growth, will join as Chairman alongside incoming director Billy Levy. Their combined experience spans cannabis, finance, and emerging technologies.
New leaders bring a proven track record in scaling businesses across traditional and tech sectors. The team will drive treasury execution, regulatory oversight, and market communication. Their roles also include guiding BERA-related governance and partnership development.
The company views this leadership change as critical for building credibility in both financial and crypto sectors. With added institutional expertise, Greenlane aims to strengthen its position within a rapidly evolving digital economy. It will continue its traditional business while integrating blockchain-based financial strategies.
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