KushCo Holdings Inc (OTCQX:KSHB) and Greenlane Holdings Inc (NASDAQ:GNLN) (FRA:G67) have announced the expiration of the 30-day waiting period under the Hart-Scott-Rodino Antitrust Improvements Act in connection with their proposed merger.
In a statement, KushCo said the transaction is expected to close in the third quarter of 2021, subject to the satisfaction or waiver of all remaining conditions in the agreement, including the receipt of all necessary approvals.
“We welcome this latest development in the formation of the combined company and look forward to continued progress on the remaining steps required to complete the transaction,” said Nick Kovacevich, KushCo’s co-founder and CEO.
“We are excited to begin our work together and to begin realizing the potential opportunities and proposed synergies provided by this transformational combination to accelerate and execute on the significant market opportunities in our evolving industry,” he added.
Under the proposed merger, Kovacevich will lead the combined company as CEO, while Greenlane co-founder Aaron LoCascio will serve as president, and Greenlane’s Bill Mote and Adam Schoenfeld will become the chief financial officer and chief strategy officer, respectively.
California-based KushCo has established itself as a premier provider of ancillary products and services to the global cannabis and CBD industries. The company has been operating for more than 10 years, selling more than one billion units to growers, processors, producers, and brands across North America, South America, and Europe.
Greenlane is a global house of brands and one of the largest sellers of premium cannabis accessories, child-resistant packaging, and specialty vaporization products to smoke shops, dispensaries, and specialty retail stores, as well as direct to consumer through its online e-commerce platform.
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