GreenPower proposes 1-for-5 share consolidation to regain Nasdaq $1 bid compliance
GP•GreenPower Motor plans a 1-for-5 share consolidation that would reduce outstanding shares to about 2,100,709 from 10,503,546, subject to Nasdaq approval.
1. Proposed consolidation
GreenPower Motor plans to issue one new share for every five currently outstanding to target compliance with Nasdaq’s $1 minimum bid price rule. Fractional shares will not be issued, and entitlements will be rounded up to whole post-consolidation shares. Options, warrants and convertible debentures will have their exercise prices and share counts adjusted proportionally.
