Greenlane to effect 1-for-8 reverse stock split

Greenlane (GNLN) announced that it will effect a reverse stock split of its outstanding shares of common stock at a ratio of 1-for-8, to be effective as of 12:01 a.m. Eastern Time on April 6. Greenlane’s common stock will begin trading on a reverse stock split-adjusted basis at the opening of the market on April 6. Following the reverse stock split, Greenlane’s common stock will continue to trade on Nasdaq. The reverse stock split is intended to improve perception of the company’s common stock as an investment security, appeal to a broader range of investors, and maintain compliance with Nasdaq Listing Rule 5550.