GREENPOWER MOTOR Co INC. (GP) Form 6-K — Oct 16, 2026
GreenPower Motor (Nasdaq: GP) converted $1,999,750 of convertible debenture principal into 2,105 Series B Convertible Preferred Shares with a 9% dividend rate, $1,000 stated value, and a US$1.975 common-share conversion price. The company also issued 219,932 common shares for accrued debenture interest and 140,640 common shares for accrued preferred dividends for the July-September 2026 quarter. The conversion improves shareholders' equity and was explicitly done to align with Nasdaq's minimum shareholders' equity requirement. Insiders, including CEO Fraser Atkinson and G.
Key figures
- Debt Amount
- 1999750
- Shares Outstanding
- 10411627
- Conversion premium
- 105% of stated amount
- Preferred dividend rate
- 9% per annum
- Atkinson pre deal ownership
- 27.8% non-diluted / 49.7% partially diluted
- Atkinson post deal ownership
- 29.3% non-diluted / 47.9% partially diluted
- Preferred total stated value
- 2105000
- Richardson pre deal ownership
- 9.65% non-diluted / 50.2% partially diluted
- Richardson post deal ownership
- 10.9% non-diluted / 49.9% partially diluted
- Preferred stated value per share
- 1000
- Series b preferred shares issued
- 2105
- Conversion price per common share
- 1.975
- Common shares issued for accrued interest
- 219932
- Common shares issued for accrued dividends
- 140640
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