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Marijuana ancillary firm Greenlane raises $32 million in equity
Greenlane Holdings, a Florida-based ancillary marijuana company, said it entered into definitive agreements with institutional investors to raise $32 million from the sale of stock and warrants.
A company news release didn't specify how the money would be used, but Greenlane has said in previous regulatory filings that proceeds will be used for working capital and to fund acquisitions.
Greenlane in March announced an all-stock agreement to acquire California-based KushCo Holdings, with plans for the combined company to sell vaporizers, rolling papers, child-resistant packaging and other cannabis-related supplies.
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