10:35 AM EDT, 10/20/2025 (MT Newswires) -- Greenlane ( GNLN ) said Monday it priced a $110 million private investment in public equity deal to fund a digital asset treasury strategy focused on acquiring BERA, the native cryptocurrency of the Berachain blockchain, as its primary reserve asset.

The transaction is led by Polychain Capital, with participation from Blockchain.com, Kraken, North Rock Digital, CitizenX, dao5 and others.

The PIPE includes about $50 million in cash or equivalents and $60 million in BERA tokens. Greenlane ( GNLN ) is selling class A common shares and pre-funded warrants at $3.84 and $3.83 each, respectively.

The deal is expected to close around Thursday.

The company said proceeds will also support working capital and general corporate purposes.

Shares of Greenlane ( GNLN ) were down more than 13% in recent trading.

Price: 3.31, Change: -0.53, Percent Change: -13.80