Greenlane Holdings (GNLN) expects to raise $80 million in an initial public offering (IPO) on Thursday, April 18th, IPO Scoop reports. The company will be issuing 5,300,000 shares at $14.00-$16.00 per share.
In the last twelve months, Greenlane Holdings generated $178.9 million in revenue and had a net loss of $5.9 million. The company has a market-cap of $1.2 billion.
Cowen and Company and Canaccord Genuity served as the underwriters for the IPO and Ladenburg Thalmann, Roth Capital Partners and Northland Securities were co-managers.
Greenlane Holdings provided the following description of their company for its IPO: ” We are a leading distributor of premium vaporization products and consumption accessories in the United States and have a growing presence in Canada. Our customers include over 6,600 independent smoke shops and regional retail chain stores, which we estimate collectively operate approximately 9,700 retail locations, and hundreds of licensed cannabis cultivators, processors and dispensaries. We also own and operate two of the most visited North American direct-to-consumer e-commerce websites in the vaporization products and consumption accessories industry, VaporNation.com and VapeWorld.com, which offer convenient, flexible shopping solutions directly to consumers. “.
Greenlane Holdings was founded in 2018 and has 256 employees. The company is located at 1095 Broken Sound Parkway, Suite 300, Boca Raton, FL 33487, US and can be reached via phone at (877) 292-7660 or on the web at http://256www.gnln.com.
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