Greenwave Retires All of its Convertible Debt and Preferred Shares

DENVER, Colo., May 23, 2024 ( Greenwave Technology Solutions, Inc. (Nasdaq:GWAV) reported the final conversion of its $18 million in convertible debt and eliminated an additional $17.2 million in debt held by its chairman and CEO, retiring all of its convertible debt and preferred shares. Since the beginning of 2024, Greenwave has eliminated $35.2 million in debt, including $17.2 million of debt held by the Company’s Chairman and CEO.

Greenwave is now reporting $21.8 million in cash and expects to generate approximately $40 million in 2024 revenue.

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