Greenlane Holdings Completes $110 Million Private Placement with Strategic Moves

Greenlane Holdings, Inc. has finalized a $110 million private placement. This includes $50 million in cash and stablecoin investments, along with $59.5 million in BERA tokens. Polychain Capital led the investment, supported by key investors such as Blockchain.com and Kraken.

Ben Isenberg has been appointed Chief Investment Officer to oversee Berachain treasury operations. Additionally, Bruce Linton has joined the board as Chairman, with Billy Levy as a director. The company holds approximately 54.2 million BERA tokens valued at $108 million. Part of a broader strategy, these tokens are aimed at yield generation through staking.

Greenlane's directors and officers have agreed to lock-up agreements for 180 days, covering their securities. The company plans to use the proceeds to acquire BERA, furthering its development as a primary treasury reserve asset while maintaining its distribution business.