Business
GreenPower Announces Proposed Public Offering of Common Shares & Warrants
VANCOUVER, BC, May 6, 2024 /PRNewswire/ -- GreenPower Motor Company Inc. (NASDAQ: GP) (TSXV: GPV) ("GreenPower" or the "Company"), a leading manufacturer and
About this update from Greenpower Motor Company Inc.
[{"type":"text","content":"VANCOUVER, BC, May 6, 2024 /PRNewswire/ -- GreenPower Motor Company Inc. (NASDAQ: GP) (TSXV: GPV) (\"GreenPower\" or the \"Company\"), a leading manufacturer and distributor of purpose-built, all-electric, zero-emission medium and heavy-duty vehicles serving the cargo and delivery market, shuttle and transit space and school bus sector, today announced it has commenced an underwritten public offering in the United States (the \"Offering\").\n\n \n \n \n \n \n \n\n \nThe Offering consists of common shares and warrants to purchase common shares and is subject to market conditions. There can be no assurance as to whether or when the Offering may be completed, or as to the actual size, pricing or other terms of the Offering. In addition, the Company intends to grant the underwriter a 45-day option to purchase up to an additional 5 percent of the number of common shares and/or warrants offered in the Offering. \nMaxim Group LLC is acting as sole book-running manager for the Offering.\nGreenPower currently intends to use the net proceeds from the Offering for the production of all-electric vehicles, including BEAST school buses and EV Star commercial vehicles, as well as for product development, with the remainder, if any, for general corporate purposes.\nThe offering is subject to customary closing conditions including the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange and notification to The Nasdaq Stock Market.\nThe Offering is being made pursuant to an effective shelf registration statement on Form F-3, as amended, (File No. 333-276209) previously filed with and subsequently declared effective by the U.S. Securities and Exchange Commission (\"SEC\") on February 2, 2024. GreenPower may offer and sell securities in both United States and foreign jurisdictions. No securities will be offered or sold to Canadian purchasers.\nA preliminary prospectus supplement and accompanying prospectus relating to the Offering and describing the terms thereof will be filed with the SEC and will form a part of the effective registration statement and will be available on the SEC's website at www.sec.gov. When available, copies of the prospectus supplement and accompanying prospectus may be obtained, when available, by contacting Maxim Group LLC, at 300 Park Avenue, 16th Floor, New York, NY 10022, Atte...