GreenPower Motor Company Inc. Announces Proposed Public Offering
GreenPower Motor Company (NASDAQ: GP) has announced a proposed public offering of common shares and/or pre-funded warrants. ThinkEquity will serve as the sole book-running manager, with a 45-day option to purchase up to an additional 15% of shares to cover over-allotments. The net proceeds will primarily fund the production of all-electric vehicles, including BEAST school buses and EV Star commercial vehicles, along with product development. The offering will be conducted under a shelf registration statement on Form F-3, with the final terms subject to market conditions.
GreenPower Motor Company (NASDAQ: GP) ha annunciato un'offerta pubblica proposta di azioni ordinarie e/o di warrant pre-finanziati. ThinkEquity fungerà da unico gestore del libro, con un'opzione di 45 giorni per acquistare fino al 15% in più di azioni per coprire sovrallocazioni. Il netto dell'operazione finanzierà principalmente la produzione di veicoli totalmente elettrici, inclusi gli scuolabus BEAST e i veicoli commerciali EV Star, insieme allo sviluppo del prodotto. L'offerta sarà effettuata sotto una dichiarazione di registrazione a scaffale sul Modulo F-3, con i termini finali soggetti alle condizioni di mercato.
GreenPower Motor Company (NASDAQ: GP) ha anunciado una oferta pública propuesta de acciones ordinarias y/o warrants prefinanciados. ThinkEquity servirá como el único gestor principal, con una opción de 45 días para comprar hasta un 15% adicional de acciones para cubrir sobreasignaciones. Los ingresos netos se destinarán principalmente a financiar la producción de vehículos totalmente eléctricos, incluyendo autobuses escolares BEAST y vehículos comerciales EV Star, además del desarrollo de productos. La oferta se llevará a cabo bajo una declaración de registro de estantería en el Formulario F-3, con los términos finales sujetos a las condiciones del mercado.
GreenPower Motor Company (NASDAQ: GP)는 보통주 및/또는 선불 워런트의 공개 제안을 발표했습니다. ThinkEquity는 단독 북런닝 매니저로 활동하며, 추가 할당을 커버하기 위해 최대 15%의 주식을 추가 구매할 수 있는 45일 옵션을 가집니다. 순수익은 BEAST 스쿨버스와 EV Star 상용차를 포함한 전기차 생산과 제품 개발에 주로 사용될 것입니다. 이 오퍼링은 F-3 양식의 선반 등록 명세서에 따라 진행되며, 최종 조건은 시장 상황에 따라 달라질 수 있습니다.
GreenPower Motor Company (NASDAQ: GP) a annoncé une offre publique proposée d'actions ordinaires et/ou de bons de souscription préfinancés. ThinkEquity agira en tant que seul gestionnaire principal de livre, avec une option de 45 jours pour acheter jusqu'à 15% d'actions supplémentaires pour couvrir les surallocations. Le produit net servira principalement à financer la production de véhicules entièrement électriques, y compris les bus scolaires BEAST et les véhicules commerciaux EV Star, ainsi que le développement de produits. L'offre sera réalisée dans le cadre d'une déclaration d'enregistrement en étagère sur le formulaire F-3, les conditions finales étant soumises aux conditions du marché.
GreenPower Motor Company (NASDAQ: GP) hat ein vorgeschlagenes öffentliches Angebot von Stammaktien und/oder vorfinanzierten Warrants angekündigt. ThinkEquity wird als alleiniger Buchführungsmanager fungieren, mit einer 45-tägigen Option zum Erwerb von bis zu 15% zusätzlichen Aktien zur Deckung von Überzeichnungen. Der Nettoerlös wird hauptsächlich die Produktion von vollelektrischen Fahrzeugen finanzieren, einschließlich BEAST Schulbussen und EV Star kommerziellen Fahrzeugen, sowie die Produktentwicklung. Das Angebot erfolgt im Rahmen eines Shelf-Registrierungsantrags auf Formular F-3, wobei die endgültigen Bedingungen den Marktbedingungen unterliegen.
- Proceeds will fund production expansion of electric vehicles
- Additional capital for product development initiatives
- Potential shareholder dilution from new share issuance
- Uncertainty in offering terms and completion
- Market conditions may affect offering success
Insights
This public offering announcement signals potential significant dilution for existing shareholders. The company's focus on raising capital for EV production, particularly BEAST school buses and EV Star vehicles, indicates a strategic move to scale operations, but comes with dilutive effects. The offering structure, including pre-funded warrants and a 15% over-allotment option, provides flexibility but also suggests urgency in capital raising.
With a relatively small market cap of
ThinkEquity is acting as sole book-running manager for the offering.
The Company expects to grant the underwriter a 45-day option to purchase up to an additional
The Company intends to use the net proceeds from the offering primarily for the production of all-electric vehicles, including BEAST school buses and EV Star commercial vehicles, as well as for product development, with the remainder, if any, for general corporate purposes.
The securities will be offered and sold pursuant to a shelf registration statement on Form F-3 (File No. 333-276209), including a base prospectus, filed with the
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
About GreenPower Motor Company, Inc.
GreenPower designs, builds and distributes a full suite of high-floor and low-floor all-electric medium and heavy-duty vehicles, including transit buses, school buses, shuttles, cargo vans and a cab and chassis. GreenPower employs a clean-sheet design to manufacture all-electric vehicles that are purpose-built to be battery powered with zero emissions while integrating global suppliers for key components. This OEM platform allows GreenPower to meet the specifications of various operators while providing standard parts for ease of maintenance and accessibility for warranty requirements. GreenPower was founded in
For further information contact
Fraser Atkinson, CEO
fraser@greenpowermotor.com
Brendan Riley, President
brendan@greenpowermotor.com
Michael Sieffert, CFO
Michael.sieffert@greenpowermotor.com
Forward Looking Statements
This press release contains forward-looking statements with the meaning of applicable securities laws. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as "upon", "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations. Such forward-looking statements include, among other things, the statements relating to the proposed public offering of GreenPower's common shares (and/or pre-funded warrants in lieu thereof) in an underwritten public offering, including the completion of the offering and the actual size or terms of the offering, and GreenPower's anticipated use of the net proceeds of the offering, if any. The material assumptions supporting these forward-looking statements include, among others, Greenpower's ability to complete the offering in the manner described, or at all and the receipt of all required regulatory approvals with respect to the offering. Actual results could differ materially due to a number of factors, including, without limitation, delays or changes of plan with respect to the offering described herein, termination of the offering in accordance with its terms, the dilutive effects of the offering, market conditions, and changes to the intended use of proceeds from the offering. Although GreenPower believes that the expectations reflected in the forward-looking information or statements are reasonable, prospective investors in GreenPower's securities should not place undue reliance on forward-looking information and statements because GreenPower can provide no assurance that such expectations will prove to be correct. Forward-looking information and statements contained in this press release are as of the date of this press release and GreenPower assumes no obligation to update or revise this forward-looking information and statements except as required by law. Consequently, readers should not place any undue reliance on such forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. ©2024 GreenPower Motor Company Inc. All rights reserved.
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SOURCE GreenPower Motor Company
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