GreenPower Announces Issuance of Series B Convertible Preferred Shares in Settlement of Convertible Debentures and Issuance of Shares for Accrued Interest and Dividends
GreenPower converted $1,999,750 of convertible debentures into 2,105 Series B Convertible Preferred Shares (9% dividend, convertible at $1.975 per share, 105% of stated value), and issued 219,932 common shares for accrued interest plus 140,640 shares for accrued dividends. The transaction reduces debt and lifts shareholders' equity toward Nasdaq's minimum requirement. Insiders — including CEO Fraser Atkinson via FWP Acquisition and Koko Financial, and G. David Richardson via Countryman — participated, making this a MI 61-101 related-party transaction exempt from valuation and minority-approval requirements.
Key figures
- Deal Value Usd
- 1999750
- Dividend rate pct
- 9
- Conversion premium pct
- 105
- Shares outstanding after
- 10411627
- Shares outstanding prior
- 10190847
- Conversion price per share
- 1.975
- Debenture principal settled
- 1999750
- Preferred total stated value
- 2105000
- Preferred stated value per share
- 1000
- Series b preferred shares issued
- 2105
- Common shares issued for interest
- 219932
- Common shares issued for dividends
- 140640
- Atkinson ownership diluted after pct
- 47.9
- Richardson ownership diluted after pct
- 49.9
AI analysis
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