Greenlane has unveiled a $111 million strategic investment in Layer-1 blockchain brand, Berachain. The company confirmed the development in a blog post on Monday, adding that the fund will be used to purchase BERA, the native token of the Berachain blockchain. Greenlane also intends to use part of the $111 million proceeds to implement a digital asset treasury strategy.
The transaction involves a $110 million PIPE deal for the purchase and sale of Greenlane’s Class A common stock. It also includes pre-funded warrants allowing the purchase of common shares for $3.84 per share and $3.83 per warrant. The PIPE comprises approximately $50 million in cash or cash equivalents and around $60 million worth of BERA tokens. Although subject to the customary closing conditions, the transaction is expected to close on October 23, 2025.
Greenlane receives support from prominent investors
It’s worth noting that prominent institutions and crypto-native investors led the financing. They include Polychain Capital, Blockchain.com, Kraken, North Rock Digital, Citizen, dao5, and among others. Similarly, upon completion of the company’s Berachain Treasury Strategy, Berastrateg, Ben Isenberg will be appointed as the Chief Investment Officer. Bruce Linton will also join as Chairman and Billy Levy as Director.
Billy Levy is a renowned entrepreneur and capital market executive with long history in building, scaling and exiting companies across multiple industries. He confounded Virgin Gaming with Sir Richard Branson. Bruce Linton also has wealth of experience in leading companies across communications and cleantech. He previously led Canopy Growth Corporation to a $15B market capitalization.
Meanwhile, Ben Isenberg, the soon-to-be appointed Chief Investment Officer of BeraStrategy, shared his conviction that Bera’s key differentiation lies in its yield source. According to him, it differs from historic PoS chains like Ethereum and Solana, as BERA’s yield is fueled by the monetization of its block rewards. He added that the team has built one of the most recognizable brands among crypto natives to date.
Similarly, Jonathan IP, the General Counsel for Berachain Foundation, expressed his excitement about working with a talented and forward-thinking team on developing its Treasury Strategy. IP noted that BeraStrategy represents a significant milestone in Berachain’s broader engagement with capital markets and institutional participants.
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