GreenPower Raises US$879,700 with 926 Preferred Shares, Pays 5% Placement Fee
GreenPower completed issuance of 926 Series A Convertible Preferred Shares raising US$879,700 under a US$18 million facility with an institutional investor. The company will pay a 5% placement fee and allows conversion at 105% of stated value plus accrued amounts divided by 125% of the prior-day NASDAQ closing price.
1. Financing Completion
GreenPower issued a second tranche of 926 Series A Convertible Preferred Shares in a private placement, generating gross proceeds of US$879,700 under its November 2025 Securities Purchase Agreement for up to US$18 million.
2. Conversion Mechanics
Each Preferred Share can convert into common shares based on a formula dividing 105% of the stated value plus any accrued amounts by 125% of the prior trading day's closing price of the common stock.
3. Placement Fee
GreenPower agreed to pay Digital Offering LLC a cash placement fee equal to 5% of the cash proceeds raised in the offering, pursuant to an engagement letter dated October 29, 2025.