Greenlane Secure $15M Accreditive Credit Facility

  • Greenlane Holdings Inc GNLN said it has closed on a $15 million asset-based loan.
  • The loan is for a term of three years and is expected to support Greenlane's strategic initiatives and working capital needs.
  • "We are continuing to make solid progress on our previously announced strategic plan to reduce our cost structure, accelerate our path to profitability, and increase liquidity on a non-dilutive basis," said CEO Nick Kovacevich.
  • Greenlane serves more than 8,000 retail locations, including licensed cannabis dispensaries, smoke shops, and specialty retailers.
  • Price Action: GNLN shares are trading higher by 4.73% at $3.40 on the last check Thursday.
Loading...
Loading...
GNLN Logo
GNLNGreenlane Holdings Inc
$3.44-0.58%

Stock Score Locked: Want to See it?

Benzinga Rankings give you vital metrics on any stock – anytime.

Reveal Full Score
Edge Rankings
Momentum
N/A
Growth
2.22
Quality
N/A
Value
97.25
Price Trend
Short
Medium
Long
Market News and Data brought to you by Benzinga APIs

Comments
Loading...