Greenwave Announces Reverse Stock Split to Regain Nasdaq Compliance
Common stock will begin trading on reverse split-adjusted basis on June 3, 2024
CHESAPEAKE, Va., May 29, 2024 /PRNewswire/ — Greenwave Technology Solutions, Inc. (“Greenwave” or the “Company”) (Nasdaq: GWAV), an operator of metal recycling facilities in Virginia, North Carolina, and Ohio, today announced that it intends to effect a reverse stock split of its common stock, par value $0.001 per share (the “Common Stock”) at a ratio of 1 post-reverse split share for every 150 pre-reverse split shares. The reverse stock split will become effective at 5:00 p.m. Eastern Standard Time on Friday, May 31, 2024. The Common Stock will continue to be traded on The Nasdaq Capital Market under the symbol GWAV and will begin trading on a reverse split-adjusted basis when the market opens on Monday, June 3, 2024. The new CUSIP number of the Common Stock following the reverse stock split will be 57630J 403. The reverse stock split is intended to increase the per-share trading price of the Common Stock to enable the Company to regain compliance with the minimum bid price requirement for continued listing on The Nasdaq Capital Market.