Greenwave Technology Solutions Strengthens Balance Sheet by Approximately $14.87 Million

April 1, 2024

https://www.prnewswire.com/news-releases/greenwave-technology-solutions-strengthens-balance-sheet-by-approximately-14-87-million-302104526.html

Company Believes it Has Regained Compliance with Nasdaq’s Shareholder Equity Requirement

CHESAPEAKE, Va., April 1, 2024 /PRNewswire/ — Greenwave Technology Solutions, Inc. (“Greenwave” or the “Company”) (Nasdaq: GWAV), a leading operator of metal recycling facilities in Virginia, North Carolina, and Ohio, today announced that during the first quarter of 2024, it received proceeds from warrant exercises of approximately $2.81 million, converted approximately $2.06 million of third party debt to equity, and exchanged $10 million of related-party debt into equity. As a result of the foregoing, the Company has increased its shareholder’s equity by approximately $14.87 million.

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