DLA Piper represented Cowen and Company, LLC and Canaccord Genuity LLC as the lead underwriters in the recently completed upsized US$102 million initial public offering of Greenlane Holdings (NASDAQ: GNLN). In addition, the selling stockholders have granted the underwriters a 30-day option to sell an additional US$15.3 million.
Greenlane is a leading distributor of premium vaporization products and consumption accessories in the United States and has a growing presence in Canada. Greenlane's customers include more than 6,600 independent smoke shops and regional retail chain stores, which collectively operate approximately 9,700 retail locations, and hundreds of licensed cannabis cultivators, processors and dispensaries. Greenlane commenced distribution of premium products containing hemp-derived cannabidiol in those states in which the distribution and sale of such products are authorized by, and can be effected in compliance with, applicable state laws and regulations.
The DLA Piper team representing Cowen and Canaccord Genuity was led by partner Larry Nishnick (San Diego) in the US and Robert Fonn (Toronto) in Canada.