Greenlane Holdings Launches Crypto Treasury Strategy

Greenlane Holdings (NASDAQ: GNLN) jumped 40.9% pre-market to $5.41 on Monday after announcing a $110 million private placement to support a new cryptocurrency treasury initiative centered around Berachain’s native token, BERA.

The private investment in public equity (PIPE) deal was led by Polychain Capital, with participation from Blockchain.com, Kraken, and other institutional investors.

Deal Structure and Financial Details

The offering includes Class A shares and pre-funded warrants priced at approximately $3.84 each
The financing consists of:
- $50 million in cash
- $60 million in BERA tokens
The transaction is expected to close around October 23

Greenlane said the proceeds will be used to acquire BERA tokens as part of its new “BeraStrategy” crypto treasury program.

Strategic Shift Toward Digital Assets

The move marks Greenlane’s strategic pivot into blockchain and decentralized finance (DeFi).
By aligning its corporate treasury with Berachain, the company seeks to:

Diversify its asset base
Participate in the growing crypto infrastructure ecosystem
Leverage partnerships with major blockchain players

Market Reaction

Following the announcement, GNLN shares surged 40.88% pre-market, signaling strong investor interest in the company’s entry into crypto assets — particularly given the high-profile backers leading the round.