Benzinga | Aug 26, 2021 04:32PM EDT

Greenlane Holdings Shareholders Vote To Approve Merger With KushCo

Greenlane Holdings, Inc. ("Greenlane") (NASDAQ:GNLN), a global house of brands and one of the largest sellers of premium cannabis accessories, child-resistant packaging, and specialty vaporization products, today announced that its stockholders have approved the proposed merger (the "Transaction") with KushCo Holdings, Inc. ("KushCo") (OTCQX:KSHB), a premier provider of ancillary products and services to the legal cannabis and CBD industries.

Over 99% of the votes cast on the merger proposal were voted in favor of the Transaction. Furthermore, each other proposal submitted to stockholders at Greenlane's annual meeting of stockholders was approved by the requisite vote. The Company expects to file with the Securities and Exchange Commission a Form 8-K disclosing the final voting results.

Pursuant to the terms of the merger agreement, KushCo will become a wholly owned subsidiary of Greenlane in an all-stock, tax-free business combination. Under the terms of the merger agreement, KushCo's stockholders will receive shares of Greenlane Class A common stock based on the final exchange ratio to be determined as of the closing date in accordance with the terms of the merger agreement.