Analysis

Greenlane IPO Could Lift Prospects Of Cannabis-Related Cos.

By Tom Zanki (April 24, 2019, 7:59 PM EDT) -- Cannabis products company Greenlane Holdings Inc.'s $102 million initial public offering could spur additional offerings from U.S. companies that serve the increasingly mainstream cannabis industry but do not grow or sell marijuana, according to lawyers who steered the deal.

Greenlane Holdings Inc. raised roughly $102 million in its IPO last week. Represented by Pryor Cashman LLP, Boca Raton, Florida-based Greenlane last Thursday sold 6 million shares at $17 each, above its projected price range of $14 to $16. The deal, which the firm said closed Tuesday, has been well received by investors. Shares of Greenlane closed Wednesday at $19.85, in Nasdaq...

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