Greenlane Holdings, a national distributor of vaporization products and accessories, announced terms for its IPO on Monday.
The Boca Raton, FL-based company plans to raise $80 million by offering 5.3 million shares (13% insider) at a price range of $14 to $16. At the midpoint of the proposed range, Greenlane Holdings would command a market value of $620 million.
Greenlane Holdings was founded in 2005 and booked $179 million in revenue for the 12 months ended December 31, 2018. It plans to list on the Nasdaq under the symbol GNLN. Cowen and Canaccord Genuity are the joint bookrunners on the deal. It is expected to price during the week of April 15, 2019.
