On January 24, 2021, Greenlane Holdings, Inc. closed the transaction. The company entered into a fifth exchange agreement with the investor in order to amend and waive certain provisions of the securities purchase agreement, as amended, and the fourth amended senior note, and exchange the fourth amended senior note without any cash consideration for (i) a new senior note in the aggregate principal amount of $17.0 million and (ii) 1,481,482 shares of our common stock. The fifth amended senior note was scheduled to mature on April 29, 2021, subject to the investor’s right to extend such maturity date. Upon maturity, the company would have been required to pay the investor an amount in cash representing the aggregate outstanding principal, plus any accrued and unpaid interest and accrued and unpaid late charges.