Greenlane sells Eyce and DaVinci brand assets to Synergy Imports, restructures $6.9M loan

Greenlane Holdings, Inc.

Synergy purchases all IP, inventory, and equipment of the Eyce and DaVinci brands from Greenlane and Warehouse Goods.
Loan principal reduced from $6.89M to $2.2M, then increased to $2.45M including transaction expenses and accrued interest.
Prior Eyce and DaVinci asset purchase agreements amended; $437,500 remaining balances added to new note.
Consulting and employment agreements with Hoch and others terminated; license from Eyce terminated.

Key facts

Extracted from this filing and checked against the source text.

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

Greenlane Holdings, Inc. entered into Asset Purchase Agreement with Synergy Imports LLC valued at Synergy purchased all intellectual property, specified inventory, and other assets related to Eyce a (effective 2024-05-01).

Action: entry
Agreement: asset purchase
Counterparty: Synergy Imports LLC
Value: Synergy purchased all intellectual property, specified inventory, and other assets related to Eyce a
Effective: 2024-05-01

Exact text from the filing

On May 6, 2024, the Company, Warehouse Goods and Synergy Imports LLC (“Synergy”) entered into an asset purchase agreement, dated May 1, 2024 (the “Asset Purchase Agreement”) pursuant to which Synergy purchased all of the intellectual property, a specified amount of inventory, and other assets related to the Eyce and DaVinci brands.

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Greenlane Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001743745-24-000042

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