Greenlane $110M PIPE for Berachain Treasury

Nasdaq-listed Greenlane has arranged a $110 million private investment in public equity (PIPE) led by Polychain to acquire BERA and establish a public Berachain treasury called BeraStrategy. The financing contemplates roughly $50 million in cash and $60 million in BERA tokens that Greenlane plans to hold as its primary treasury reserve and use to support its digital-asset treasury strategy. Greenlane said it is adding experienced hires and expects the transaction to close on Oct. 23, 2025. The move represents a strategic diversification by the cannabis-accessories and lifestyle company into institutional crypto treasury management.