GreenPower converts $2 million in debt into preferred shares
GP•GreenPower Motor converted $2 million of debenture principal into 2,105 Series B Convertible Preferred Shares to strengthen shareholders’ equity and support compliance with Nasdaq’s minimum equity requirement.
1. Debt conversion details
The preferred shares carry a 9% annual dividend and are convertible into common shares at $1.975 per share, subject to adjustment. Investors also received 219,932 common shares for accrued debenture interest and 140,640 common shares for preferred dividends accrued from July 1 through September 30, 2026.
