Item 5. Market for Registrant’s Common Equity
ITEM
5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
Market
Information
Our
Class A common stock is listed on the Nasdaq Captial Market under the symbol “GNLN”.
Holders
As
of July 18, 2024 , there were approximately 78 stockholders of record of our Class A common stock. Since certain of our shares of
Class A common stock are held by brokers and other institutions on behalf of stockholders, we are unable to estimate the total number
of stockholders represented by these record holders.
Dividends
We
have never declared or paid any cash dividends on our Class A common stock. We intend to retain any future earnings and do not expect
to pay cash dividends in the foreseeable future.
Unregistered
Sales of Equity Securities
There
were no unregistered sales of equity securities during the year ended December 31, 2023.
On
June 29, 2023, we entered into securities purchase agreements with certain investors, pursuant to which we agreed to issue and sell an
aggregate of 560,476 shares of our Class A common stock, pre-funded warrants to purchase up to 3,487,143 shares of our Class A common
stock (the “July 2023 Pre-Funded Warrants”) and warrants to purchase up to 8,095,238 shares of our Class A common stock (the
“July 2023 Standard Warrants”). The July 2023 units each consisted of one share of Class A common stock or a July 2023 Pre-Funded
Warrant and two July 2023 Standard Warrants to purchase one share of our Class A common stock. The July 2023 units were offered pursuant
to an effective Registration Statement on Form S-1. The July 2023 Standard Warrants are exercisable immediately at an exercise price
equal to $1.05 per share of Class A common stock for a period of five years. Each July 2023 Pre-Funded Warrant is exercisable immediately
with no expiration date for one share of Class A common stock at an exercise price of $0.0001. The July 2023 Offering generated gross
proceeds of approximately $4.3 million and net proceeds to the Company of approximately $3.9 million.
As
of the date of this Annual Report on Form 10-K, all July 2023 Pre-Funded Warrants have been exercised, based upon which we issued
an additional 1,911,000 shares of our Class A common stock subsequent to year end, for de minimis net proceeds.
In
connection with the July 2023 Offering, we entered into privately negotiated agreements with holders participating in the offering
to amend existing outstanding warrants to purchase up to 1,344,367 shares of Class A common stock that were previously issued in connection
with the June 2022 and October 2022 Offerings at exercise prices per share of $50.00 and $9.00, respectively, and expire on December
29, 2027 and November 1, 2029, respectively (collectively, the “Prior Warrants”), effective upon the closing of the July
2023 Offering to reduce the exercise price of the Prior Warrants to $1.05, the exercise price of the warrants to purchase shares of Class
A common stock offered in the July 2023 Offering. All other terms of the Prior Warrants remained unchanged.
ITEM
6. [Reserved]