Greenlane Holdings, Inc. (GNLN): debt financing — Greenlane Holdings secures $2.2M bridge loan; defers $2M+ in payments; pledges assets and patents

Greenlane Holdings, Inc.

Received $2.2M six-month bridge loan; lender deferred $2,028,603.59 in existing payments.
Up to $2,655,777.63 in additional payments may be deferred under existing agreements during loan term.
All assets except deposit accounts and accounts receivable pledged as collateral.
Transferred one US patent, two foreign patents, and a trademark; received exclusive license back for smoking products.

item 1.01 item 2.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Greenlane Holdings, Inc. incurred loan of $2.2 million with lender maturing six-month bridge loan.

Instrument: loan
Principal: $2.2 million
Counterparty: lender
Maturity: six-month bridge loan
Event: incurrence

Exact text from the filing

the lender agreed to make available to the Company a six-month bridge loan of $2.2 million in new funds

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Greenlane Holdings, Inc. entered into Loan Agreement with the lender valued at $2.2 million (effective 2023-09-22).

Action: entry
Agreement: credit facility
Counterparty: the lender
Value: $2.2 million
Effective: 2023-09-22

Exact text from the filing

On September 22, 2023, Greenlane Holdings, Inc. (the “Company”) entered into a secured loan pursuant to a Loan and Security Agreement, dated as of September 22, 2023 (the “Loan Agreement”).

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Greenlane Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001743745-23-000064

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