Greenlane Announces Board's Approval Of 1-For-11 Reverse Stock Split Ratio, Effective On August 5, 2024
Portfolio Pulse from Benzinga Newsdesk
Greenlane Holdings, Inc. (NASDAQ:GNLN) announced a 1-for-11 reverse stock split of its Class A common stock, effective August 5, 2024. The move aims to comply with Nasdaq's minimum bid price requirement.
July 31, 2024 | 9:25 pm
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Greenlane Holdings, Inc. (NASDAQ:GNLN) will implement a 1-for-11 reverse stock split effective August 5, 2024, to comply with Nasdaq's minimum bid price requirement.
The reverse stock split is intended to increase the stock price by reducing the number of shares outstanding, which should help Greenlane meet Nasdaq's minimum bid price requirement and maintain its listing. This is generally seen as a positive move to avoid delisting.
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