- Greenlane Holdings Inc (NASDAQ: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.
Morgan Stanley Maintains Underweight on Southern, Raises Price Target to $69
Morgan Stanley analyst Stephen Byrd maintains Southern (NYSE:SO) with a Underweight and raises the price target from $63 to $69.
