MoFo News Item

MoFo Represents Greenlane in Merger with KushCo

31 Mar 2021

Morrison & Foerster represented 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, in its agreement to merge with KushCo Holdings, Inc. (“KushCo”) (OTCQX: KSHB), pursuant to which KushCo will become a wholly owned subsidiary of Greenlane.

KushCo is a premier provider of ancillary products and services to the legal cannabis and CBD industries. The transaction will bring together two of the pioneering cannabis ancillary product and services companies, with a combined 25-plus years of operating history. The combined company will serve a premier group of customers, which includes many of the leading multi-state-operators and licensed producers, the majority of the top smoke shops in the United States, and millions of consumers.

The combined company is expected to have a pro forma market capitalization in excess of $350 million based on the respective share prices of Greenlane and KushCo as of market close on March 30, 2021. Following completion of the transaction, the combined company is expected to generate pro forma revenue of between $310 million and $330 million for the year ended December 31, 2021.

Completion of the transaction is subject to applicable regulatory approvals, including by Nasdaq, in addition to certain customary closing conditions, as well as approval by KushCo’s stockholders and certain Greenlane stockholders.

The MoFo team advising Greenlane was led by corporate partners David Slotkin (Washington, D.C.), Erik Knudsen (Denver), and Justin Salon (Washington, D.C.), corporate of counsel Kevin Madden (Boston), and corporate associates John Hensley (Washington, D.C.), Meredith Carr (Washington, D.C.), and Astrid Muharram (Denver/Miami).

Greenlane has been working with Morrison & Foerster’s Corporate and Securities team for the past few years. Morrison & Foerster recently represented Greenlane in its acquisition of Eyce, a leading manufacturer of specialty silicone smoking products.

Read more about the transaction in the company’s press release.



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