Greenwave Technology Solutions Announces $4 Million Offering Priced at Market
Greenwave Technology Solutions (NASDAQ: GWAV) has announced a $4 million registered direct offering and concurrent private placement priced at market. The company will sell 7,544,323 shares of common stock at $0.5302 per share, with accompanying warrants to purchase an equal number of shares at the same price.
The warrants will expire five years from stockholder approval date. The offering, expected to close around January 14, 2025, includes provisions prohibiting participating investors from short selling the company's stock while holding warrants. This financing aims to accelerate the recovery and monetization of rare earth metals, with the company positioning itself in the renewable energy and advanced technology materials market.
Greenwave Technology Solutions (NASDAQ: GWAV) ha annunciato un'offerta diretta registrata di 4 milioni di dollari e una placement privata concomitante, prezzata in base al mercato. L'azienda venderà 7.544.323 azioni di comune stock a 0,5302 dollari per azione, con relativi warrant per l'acquisto di un numero uguale di azioni allo stesso prezzo.
I warrant scadranno cinque anni dalla data di approvazione degli azionisti. L'offerta, che dovrebbe chiudersi intorno al 14 gennaio 2025, include clausole che vietano agli investitori partecipanti di effettuare operazioni di short selling sul titolo dell'azienda mentre detengono i warrant. Questo finanziamento mira ad accelerare il recupero e la monetizzazione dei metalli rari, con l'azienda che si posiziona nel mercato delle energie rinnovabili e dei materiali per tecnologie avanzate.
Greenwave Technology Solutions (NASDAQ: GWAV) ha anunciado una oferta directa registrada de 4 millones de dólares y un colocado privado concurrente, con precios fijados en el mercado. La compañía venderá 7,544,323 acciones de capital común a 0.5302 dólares por acción, con warrants adicionales para adquirir un número igual de acciones al mismo precio.
Los warrants expirarán cinco años a partir de la fecha de aprobación de los accionistas. La oferta, que se espera cierre alrededor del 14 de enero de 2025, incluye disposiciones que prohíben a los inversores participantes realizar ventas en corto de las acciones de la compañía mientras mantengan los warrants. Este financiamiento tiene como objetivo acelerar la recuperación y monetización de metales raros, posicionándose la empresa en el mercado de energías renovables y materiales de tecnología avanzada.
Greenwave Technology Solutions (NASDAQ: GWAV)는 400만 달러 규모의 등록 직접 제공 및 동시 사모 배치가 시장에 맞춰 가격이 책정되었다고 발표했습니다. 회사는 $0.5302에 총 7,544,323주를 판매하며, 동등한 수의 주식을 같은 가격에 구매할 수 있는 워런트가 함께 제공됩니다.
워런트는 주주 승인일로부터 5년 후에 만료됩니다. 2025년 1월 14일경에 마감될 것으로 예상되는 이번 공모는, 참여 투자자들이 워런트를 보유하는 동안 회사의 주식을 공매도하는 것을 금지하는 조항을 포함하고 있습니다. 이 자금 조달은 희귀 금속의 회수 및 수익화 가속화를 목표로 하며, 회사는 재생 가능 에너지 및 첨단 기술 소재 시장에 위치하고 있습니다.
Greenwave Technology Solutions (NASDAQ: GWAV) a annoncé une offre directe enregistrée de 4 millions de dollars et un placement privé concomitant, évalués au prix du marché. La société va vendre 7 544 323 actions ordinaires à 0,5302 dollar par action, avec des bons de souscription accompagnants pour acheter un nombre égal d'actions au même prix.
Les bons de souscription expireront cinq ans après la date d'approbation des actionnaires. L'offre, qui devrait se clore autour du 14 janvier 2025, inclut des dispositions interdisant aux investisseurs participants de vendre à découvert les actions de la société tant qu'ils détiennent les bons de souscription. Ce financement vise à accélérer la récupération et la monétisation des terres rares, en positionnant l'entreprise dans le marché de l'énergie renouvelable et des matériaux technologiques avancés.
Greenwave Technology Solutions (NASDAQ: GWAV) hat eine direkte Registrierungsangebot über 4 Millionen Dollar und eine gleichzeitige Privatplatzierung zum Marktkurs angekündigt. Das Unternehmen wird 7.544.323 Aktien zum Preis von 0,5302 Dollar pro Aktie verkaufen, zusammen mit Bezugsrechten zum Kauf einer gleichen Anzahl von Aktien zum gleichen Preis.
Die Bezugsrechte verfallen fünf Jahre nach dem Genehmigungsdatum der Aktionäre. Das Angebot, das voraussichtlich am 14. Januar 2025 abgeschlossen wird, enthält Bestimmungen, die den teilnehmenden Investoren verbieten, die Aktien des Unternehmens während des Haltens der Bezugsrechte leer zu verkaufen. Diese Finanzierung zielt darauf ab, die Erholung und Monetarisierung seltener Erden zu beschleunigen, wobei sich das Unternehmen im Markt für erneuerbare Energien und fortschrittliche Technologiematerialien positioniert.
- Secured $4 million in new financing
- Anti-short selling provisions protect against downward stock pressure
- Warrants priced at market value ($0.5302) with no discount
- Share dilution through issuance of 7,544,323 new shares
- Additional potential dilution from warrant exercise
- Financing at relatively low share price of $0.5302
Insights
This
The anti-shorting provision is an interesting protective measure, though its practical enforcement may be challenging. The timing suggests urgent capital needs, as companies typically avoid offerings at low valuations unless necessary. While the funds could accelerate rare earth metal operations, the dilutive impact and warrant overhang may constrain near-term stock performance.
For a micro-cap company with an
The strategic focus on rare earth metals positions GWAV in a critical growth sector. These elements are essential for electric vehicles, wind turbines and advanced electronics, with demand expected to surge. The global push toward green technology creates a substantial market opportunity, particularly as nations seek to reduce dependence on traditional rare earth metal sources.
However, the key challenge lies in execution - rare earth metal recovery is technically complex and capital-intensive. The
Company to Accelerate Recovery and Monetization of Rare Earth Metals
Transaction Prohibits Short Selling, Optimizes Capital Structure, and Aligns Investors with Long-Term Growth
The agreement involves the sale of 7,544,323 shares of common stock at a price of
Some other key highlights of the offering include:
- This financing underscores investor confidence in Greenwave's growth potential and strengthens the Company's position in the rapidly expanding rare earth metals market—crucial for renewable energy and advanced technology applications.
- Participating investors agreed to a prohibition on shorting the Company's common stock while such investors own warrants, ensuring alignment with Greenwave's long-term vision and reducing downward stock pressure.
- The transaction includes a forward-looking call feature, enabling Greenwave to redeem such warrants for cash proceeds of up to an additional
$4 million
Dawson James Securities Inc. is acting as the sole placement agent for this transaction.
The shares are being offered pursuant to a shelf registration statement on Form S-3, effective since April 28, 2023. The warrants and the shares of common stock underlying the warrants were not offered under the registration statement but through an exemption from registration under the Securities Act of 1933. The Company has agreed to file a registration statement under the Securities Act of 1933, as amended (the "Act"), with the Securities and Exchange Commission (the "SEC"), covering the resale of the shares of common stock issuable upon exercise of the warrants within 20 days following the closing of the offering.
This press release shall not constitute an offer to sell or the solicitation of any offer to buy the securities discussed herein, nor shall there be any offer, solicitation, or sale of the securities in any state in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
For more details, refer to Greenwave Technology Solutions' Form 8-K filed with the SEC on January 13, 2025.
Advancing Rare Earth Recovery Amid Global Supply Chain Challenges
Greenwave is fast-tracking initiatives to recover and monetize rare earth metals as global supply chain risks escalate, driven by
Leveraging advanced technologies, Greenwave recovers rare earth elements from high-value sources such as lithium batteries, solar cells, LED manufacturing scrap, and electronic components. The Company is actively evaluating the development of a dedicated rare earth recovery facility to meet growing domestic demand.
Strategically positioned near Naval Station Norfolk and the Port of
About Greenwave Technology Solutions, Inc.
Greenwave Technology Solutions, Inc. (Nasdaq: GWAV) operates 13 metal recycling facilities supplying leading steel mills and industrial partners with sustainably sourced metals. Headquartered in
For detailed financials and updates, visit www.GWAV.com.
Forward-looking Statements
This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These include, without limitation, statements about its revenue growth, opening of additional locations, margin expansion and cashflow projections. These statements are identified by the use of the words "could," "believe," "anticipate," "intend," "estimate," "expect," "may," "continue," "predict," "potential," "project" and similar expressions that are intended to identify forward-looking statements. All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Although the Company believes that its plans, objectives, expectations and intentions reflected in or suggested by the forward-looking statements are reasonable, the Company can give no assurance that these plans, objectives, expectations or intentions will be achieved. Forward-looking statements involve significant risks and uncertainties (some of which are beyond the Company's control), assumptions and other factors that could cause actual results to differ materially from historical experience and present expectations or projections. Actual results may differ materially from those in the forward-looking statements and the trading price for the Company's common stock may fluctuate significantly. Forward-looking statements also are affected by the risk factors described in the Company's filings with the SEC. Except as required by law, the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
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SOURCE Greenwave Technology Solutions
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