- 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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