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Greenlane Secure $15M Accreditive Credit Facility

Greenlane Holdings Inc (NASDAQ:GNLN) said it has closed on a $15 million asset-based loan. The loan is for a term…

byShivani Kumaresan

August 11, 2022

1 minute read

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.

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