FAQ: Greenwave Technology Solutions' 1-for-110 Reverse Stock Split
Summary
Greenwave Technology Solutions is implementing a 1-for-110 reverse stock split effective August 22, 2025, to boost its per-share trading price and regain compliance with Nasdaq's minimum bid price requirement.
What is Greenwave Technology Solutions announcing?
Greenwave Technology Solutions is implementing a 1-for-110 reverse stock split of its common stock, effective at 5 p.m. EST on August 22, 2025, to increase the per-share trading price and regain compliance with Nasdaq’s minimum bid price requirement.
When does the reverse stock split take effect?
The reverse stock split becomes effective at 5 p.m. EST on Friday, August 22, 2025, with trading on a reverse split-adjusted basis beginning when the market opens on Monday, August 25, 2025.
Why is Greenwave implementing this reverse stock split?
The reverse stock split is intended to boost the per-share trading price and help the company regain compliance with Nasdaq’s minimum bid price requirement for continued listing on the Nasdaq Capital Market.
What happens to fractional shares after the reverse split?
Fractional shares will not be issued; any fractional interest resulting from the reverse split will be rounded up to the nearest whole share for shareholders.
How will the number of outstanding shares change?
Following the split, Greenwave’s outstanding common shares will be reduced from 62,794,283 to approximately 570,858, with proportional adjustments applied to outstanding options and warrants.
Will the stock symbol change after the reverse split?
No, the stock will continue trading on the Nasdaq Capital Market under the same symbol GWAV, but will begin trading under a new CUSIP number 57630J 502.
What does Greenwave Technology Solutions do?
Greenwave Technology Solutions, through its subsidiary Empire Services, operates 13 metal recycling facilities in Virginia, North Carolina, and Ohio, collecting, classifying, and processing raw scrap metal using advanced technologies to increase efficiency.
Where can I find more information about this announcement?
The full press release is available at https://ibn.fm/L2M8n, and more information about the company can be found at www.GWAV.com or in their newsroom at https://ibn.fm/GWAV.
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