Greenlane closes KushCo merger; 48.1% combined ownership for KushCo holders; Kovacevich named CEO

Greenlane Holdings, Inc.

Merger completed Aug 31, 2021; each KushCo share converted to 0.3016 Greenlane Class A shares valued at ~$0.79 based on Aug 30 close of $2.61.
Former Greenlane stockholders own 51.9% and former KushCo stockholders own 48.1% of combined company on fully diluted basis.
Greenlane issued 48.7M Class A shares as consideration; assumed warrants for 9.5M shares and options for 3.0M shares.
Nicholas Kovacevich (former KushCo CEO) becomes Greenlane CEO; Aaron LoCascio remains as President and Chairman until independent chairman appointed by Sep 30.
Three KushCo directors (Kovacevich, Don Hunter, Dallas Imbimbo) added to Greenlane board; Neil Closner resigned.

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Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Don Hunter

Director

GNLN · Greenlane Holdings, Inc.

Effective: 2021-08-31
Filed: August 31, 2021, 7:59 PM ET

immediately following the effective time of Merger 1, the size of Greenlane’s Board of Directors (the “Board”) was increased from five members to seven members and Nicholas Kovacevich, the former Chief Executive Officer of KushCo, Don Hunter, a former member of the KushCo board of directors, and Dallas Imbimbo, a former member of the KushCo board of directors, were elected to the Board, each to serve until the next annual meeting of stockholders of the Company and until their successors have been duly elected and qualified.

Role change

Aaron LoCascio

President

GNLN · Greenlane Holdings, Inc.

Effective: 2021-08-31
Successor: Nicholas Kovacevich
Filed: August 31, 2021, 7:59 PM ET

Mr. Kovacevich replaces Aaron LoCascio, who will remain with Greenlane as President of the Company.

Appointed

Dallas Imbimbo

Director

GNLN · Greenlane Holdings, Inc.

Effective: 2021-08-31
Filed: August 31, 2021, 7:59 PM ET

immediately following the effective time of Merger 1, the size of Greenlane’s Board of Directors (the “Board”) was increased from five members to seven members and Nicholas Kovacevich, the former Chief Executive Officer of KushCo, Don Hunter, a former member of the KushCo board of directors, and Dallas Imbimbo, a former member of the KushCo board of directors, were elected to the Board, each to serve until the next annual meeting of stockholders of the Company and until their successors have been duly elected and qualified.

Appointed

Nicholas Kovacevich

Director

GNLN · Greenlane Holdings, Inc.

Effective: 2021-08-31
Filed: August 31, 2021, 7:59 PM ET

immediately following the effective time of Merger 1, the size of Greenlane’s Board of Directors (the “Board”) was increased from five members to seven members and Nicholas Kovacevich, the former Chief Executive Officer of KushCo, Don Hunter, a former member of the KushCo board of directors, and Dallas Imbimbo, a former member of the KushCo board of directors, were elected to the Board, each to serve until the next annual meeting of stockholders of the Company and until their successors have been duly elected and qualified.

Appointed

Nicholas Kovacevich

Chief Executive Officer

GNLN · Greenlane Holdings, Inc.

Effective: 2021-08-31
Filed: August 31, 2021, 7:59 PM ET

as of the effective time of Merger 1, Mr. Kovacevich was appointed as the Chief Executive Officer of Greenlane.

Departed

Neil Closner

Director

GNLN · Greenlane Holdings, Inc.

Effective: 2021-08-31
Filed: August 31, 2021, 7:59 PM ET

Neil Closner, a former director of Greenlane, provided a resignation letter to the Board that became effective upon the closing of the Mergers.

Appointed

Rodrigo De Oliviera

Chief Operating Officer

GNLN · Greenlane Holdings, Inc.

Effective: 2021-08-31
Filed: August 31, 2021, 7:59 PM ET

Rodrigo De Oliviera’s appointment as Greenlane’s Chief Operating Officer became effective upon the closing of the Mergers.