Business
GreenPower Announces Proposed Share Consolidation
VANCOUVER, BC, Aug. 20, 2025 /PRNewswire/ -- GreenPower Motor Company Inc. (Nasdaq: GP) (TSXV: GPV) ("GreenPower"), announces that it it intends to complete a
About this update from Greenpower Motor Company Inc.
[{"type":"text","content":"VANCOUVER, BC, Aug. 20, 2025 /PRNewswire/ -- GreenPower Motor Company Inc. (Nasdaq: GP) (TSXV: GPV) (\"GreenPower\"), announces that it it intends to complete a consolidation of its issued and outstanding common shares (the \"Shares\") on the basis of one new Share (a \"Post-consolidated Share\") for every ten currently-outstanding Shares (the \"Consolidation\").\n\n \n \n \n \n \n \n\n \nIt is anticipated that the Consolidation will reduce the number of outstanding shares of the Company from 30,462,084 Shares to approximately 3,046,208 Post-consolidated Shares, subject to adjustment for rounding. The Consolidation is being undertaken to regain compliance with Nasdaq listing rules requiring a minimum bid price for the Company's shares of $1 per share (the \"Minimum Bid Price Requirement\"). The Consolidation is subject to approval by the TSX Venture Exchange (the \"Exchange\").\nThe Company does not intend to change its name or its current trading symbol in connection with the proposed Consolidation. The effective date of the Consolidation will be announced in a subsequent news release.\nNo fractional Post-consolidated Shares will be issued as a result of the Consolidation. Shareholders who would otherwise be entitled to receive a fraction of a Post-consolidated Share will be rounded up to the nearest whole number of Post-consolidated Shares and no cash consideration will be paid in respect of fractional shares.\nThe exercise price and number of Shares of the Company, issuable upon the exercise of outstanding options and warrants and conversion of outstanding convertible debentures, will be proportionally adjusted upon the implementation of the proposed Consolidation in accordance with the terms thereof.\nThe Company also announces that on August 15, 2025, it received a written notice from the Listing Qualifications staff of The Nasdaq Stock Market (\"Nasdaq\") notifying the Company that it no longer complies with Nasdaq Listing Rule 5550(b)(1) due to the Company's failure to maintain a minimum of US$2,500,000 in stockholders' equity (the \"Minimum Stockholders' Equity Requirement\") or any alternatives to continued listing requirements.\nNasdaq's notice has no immediate effect on the listing of the Company's common shares on the Nasdaq Capital Market. Under the rules of Nasdaq, the Company has 45 calendar days, or until Septemb...