Greenlane berachain announced a $110 million PIPE combining $50 million in cash and $60 million in BERA tokens to fund a BeraStrategy treasury reserve and support operations.
What does Greenlane private investment equity PIPE involve and who are the investors?
The financing is a $110 million private investment in public equity (PIPE) comprised of roughly $50 million in cash and about $60 million delivered in BERA tokens.
The transaction is led by Polychain with participation from Blockchain.com, Kraken, North Rock Digital, CitizenX and dao5.
Shares and pre-funded warrants will be sold at fixed prices to completing investors to seed Greenlane’s new digital-asset treasury position; purchase prices disclosed by the company are $3.84 per share and $3.83 per pre-funded warrant.
The deal also underpins a broader treasury strategy approach now seen among public issuers.
What is polychain capital investor participation in the deal?
- Amount: $110,000,000 total
- Breakdown: $50M cash; $60M in BERA tokens
- Pricing: $3.84 per share; $3.83 per pre-funded warrant
In brief, the PIPE supplies immediate liquidity via the $50M cash tranche while creating a sizeable BERA reserve that will be managed under the BeraStrategy; the transaction is expected to close on or about 23 October 2025.
How is BERA and Berachain involved and what is the bera token treasury strategy?
BERA is the native token of Berachain, a Layer 1 protocol built on a Proof of Liquidity model. Greenlane’s announced BeraStrategy will make BERA the company’s primary treasury reserve asset.
Allocating token value rather than only cash alters balance-sheet composition and introduces crypto-market exposure for equity holders.
From institutional practice, token allocations typically require bespoke custody solutions and active hedging to limit volatility; the mechanics and custody arrangements were described in company disclosures.
Quick definitions
- BERA: native token of Berachain
- Berachain: berachain layer 1 blockchain using Proof of Liquidity
Who will lead Greenlane after the deal (Ben Isenberg, Bruce Linton, Billy Levy)?
The company announced key appointments tied to the strategy: Ben Isenberg is expected to become Chief Investment Officer, Bruce Linton will join as Chairman, and Billy Levy will serve as a Director. “We believe a token-weighted treasury aligns incentives and unlocks long-term value,” said Bruce Linton.
Closing and custody arrangements remain subject to standard regulatory and contractual approvals; timing and execution depend on customary closing conditions.
What does this mean for investors and market exposure to BERA and Berachain?
For investors, the deal creates direct equity exposure to a company with a concentrated token reserve and institutional backers. The mix of cash and BERA means Greenlane will hold a significant position in a Layer 1 token while continuing its operating activities.
Market reaction will depend on token price dynamics and the company’s transparency on treasury management.
For context on corporate treasury moves in crypto, see our analysis of token and reserve management in practice (digital finance partnerships and Layer 1 comparisons).
In brief, the PIPE repositions Greenlane as a hybrid operating company and crypto treasury, with outcomes hinging on BERA performance and execution of the BeraStrategy.
