#Canada #Vancouver #electric vehicles #Nasdaq Listing #GreenPower Motor

GreenPower Motor Company Plans Share Consolidation

GreenPower Motor Company Inc., trading under NASDAQ as GP and TSXV as GPV, recently announced its intentions regarding a significant share consolidation. The company is proposing to consolidate its common shares based on a ratio of one new share for every ten existing shares. This maneuver is set to reduce the company's outstanding share count from approximately 30,462,084 to about 3,046,208 post-consolidation shares.

The primary reason for this strategic decision is to comply with NASDAQ's listing requirements that mandate a minimum bid price of $1 per share. GreenPower's initiative to consolidate shares seeks to enhance their market price and ensure adherence to the necessary NASDAQ guidelines. The consolidation process awaits approval from the TSX Venture Exchange, and the specific date for the share consolidation will be disclosed in a future announcement.

It's worth mentioning that no fractional shares will be allocated due to the consolidation. Instead, shareholders entitled to fractional shares will be rounded up to the nearest whole number, ensuring no cash will be distributed for those fractions. Additionally, GreenPower assures that the current trading symbol and company name will remain unchanged following the consolidation.

Moreover, GreenPower announced on August 15, 2025, that it received notification from NASDAQ's Listing Qualifications staff regarding its failure to meet the required minimum stockholders' equity of $2,500,000. This notice does not immediately affect the company's NASDAQ listing. Still, it prompts GreenPower to formulate a compliance plan, which they must submit within a 45-day timeframe, specifically by September 29, 2025. If accepted, NASDAQ may offer a compliance extension up to 180 days, extending the deadline to February 11, 2026.

GreenPower Motor Company is a notable player in the electric vehicle sector, specializing in designing, manufacturing, and distributing a wide range of all-electric vehicles, including transit and school buses, along with cargo vans and shuttles. Founded in Vancouver, Canada, the company has established operational facilities in Southern California, merging innovation in electric vehicle technology with logistical sustainability. The company has been listed on the Toronto exchange since November 2015 and completed its U.S. IPO and NASDAQ listing in August 2020.

In light of these developments, stakeholders and potential investors are encouraged to closely monitor GreenPower's progress regarding these strategic initiatives, especially the proposed share consolidation and compliance plan submission to NASDAQ. As the company navigates through this critical phase, the commitment to maintaining its listings and enhancing shareholder value remains a forefront priority.

For more information about GreenPower and its innovative electric vehicles, please visit www.greenpowermotor.com or contact their management team for inquiries.

This announcement of the share consolidation reflects GreenPower's proactive measures to align with regulatory standards and stabilize its financial health in a competitive market.

Conclusion

In conclusion, GreenPower Motor Company’s proposed share consolidation is an essential step in the company’s strategy to remain compliant with NASDAQ standards, aiming to secure a sustainable place in the electric vehicle industry while focusing on innovative solutions to meet the growing demand for green transportation.