GreenPower Announces Completion of Fourth Tranche of Preferred Share Financing

Rhea-AI Summary

GreenPower Motor (NASDAQ: GP) completed the fourth tranche of its Series A Convertible Preferred Share financing, issuing 1,500 preferred shares in a private placement for gross proceeds of US$1,425,000. The financing is conducted under a Securities Purchase Agreement dated November 14, 2025, as amended June 30, 2026, with an institutional investor.

Each Series A Convertible Preferred Share may be converted into common shares based on a formula using 105% of stated value and 125% of the prior-day NASDAQ closing price. GreenPower will pay a 5% cash placement fee on proceeds to Digital Offering LLC.

Positive

• Fourth tranche raises US$1,425,000 in gross proceeds
• Continued access to capital via institutional investor facility
• Convertible preferred structure provides potential future equity funding

Negative

• Potential future dilution from conversion of preferred into common shares
• Cash placement fee of 5% reduces net proceeds to the company

Market Context

GP’s recent record showed a -2.7% 24-hour reaction to positive product news, adding a comparison poi...

Analysis

GP’s recent record showed a -2.7% 24-hour reaction to positive product news, adding a comparison point for this financing announcement. Risk context classified short positioning as low; conversion terms remain the relevant watchpoint.

Key Figures

Preferred shares issued: 1,500 Series A Convertible Preferred Shares Gross proceeds: US$1,425,000 Conversion value factor: 105% +2 more

5 metrics

Preferred shares issued 1,500 Series A Convertible Preferred Shares Fourth tranche private placement

Gross proceeds US$1,425,000 Fourth tranche private placement

Conversion value factor 105% Of stated value plus additional amounts owing

Price factor 125% Of the prior-day NASDAQ closing price

Cash placement fee 5% Of cash proceeds paid to Digital Offering LLC

Historical Context

5 past events · Latest: Jul 10 (Neutral)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Jul 10	filing completion	Neutral	-0.7%	Canadian cease trade order was revoked after annual filings were completed.
Jul 07	filing delay	Negative	-1.9%	Missed Canadian filing deadline resulted in a cease trade order.
May 21	product technology	Positive	-2.7%	Company introduced a cold-weather heating solution for its electric school bus.
May 01	leadership change	Neutral	-2.7%	Director Sebastian Giordano resigned and moved into an advisory role.
Mar 27	meeting results	Neutral	+0.0%	Shareholders approved nominees, the equity plan, and auditor appointment.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

GP's recent news reactions diverged from announcement sentiment three times and aligned twice.

Key Terms

convertible preferred shares, private placement, securities purchase agreement

3 terms

convertible preferred shares financial

"issued the fourth tranche of 1,500 Series A Convertible Preferred Shares"

Convertible preferred shares are a type of stock that pays priority dividends and has a higher claim on assets than common shares, but can be exchanged later for a set number of common shares. For investors, they offer a safety-and-upside mix: steady income and protection like a senior ticket, plus the option to convert into common stock if the company grows — a decision that affects potential returns and how much existing owners’ stakes may be diluted.

private placement financial

"in a private placement for gross proceeds of US$1,425,000"

A private placement is a sale of securities directly to a selected group of investors, typically institutions or accredited investors, instead of through a public offering. It lets a company raise money faster and with fewer regulatory steps; for existing shareholders it matters because the newly issued shares, often sold at a discount, increase the share count and can dilute their ownership.

securities purchase agreement financial

"pursuant to a Securities Purchase Agreement dated November 14, 2025"

A securities purchase agreement is a written contract between a buyer and a seller outlining the terms for buying or selling financial assets such as stocks or bonds. It specifies details like the price, quantity, and conditions of the transaction, similar to a shopping list with agreed-upon terms. For investors, it provides clarity and legal protection when transferring ownership of these financial instruments.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Vancouver, British Columbia--(Newsfile Corp. - August 18, 2026) - GreenPower Motor Company Inc. (NASDAQ: GP) ("GreenPower" or the "Company"), a leading manufacturer and distributor of all-electric, purpose-built, zero-emission medium and heavy-duty vehicles serving the cargo and delivery market, shuttle and transit space and school bus sector, today announced it has issued the fourth tranche of 1,500 Series A Convertible Preferred Shares in a private placement for gross proceeds of US$1,425,000 pursuant to a Securities Purchase Agreement dated November 14, 2025, as amended on June 30, 2026 (the "Agreement") for the issuance of Series A Convertible Preferred Shares through a facility with an institutional investor (the "Investor").

Each Series A Convertible Preferred Share is eligible to be converted into common shares in the capital of the Company (each, a "Common Share") based on a specified conversion rate equal to the quotient of 105% of the stated value of each Series A Convertible Preferred Share, plus any additional amounts owing to the Investor at the time of conversion, and 125% of the closing price of the Common Shares on NASDAQ on the day prior to the issuance of such Series A Convertible Preferred Shares.

The Company will pay a cash placement fee equal to 5% of the cash proceeds raised in the Offering to Digital Offering LLC ("Digital Offering") pursuant to an engagement letter dated October 29, 2025 between the Company and Digital Offering.

This press release is not an offer to sell or the solicitation of an offer to buy the securities in the United States or in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction. The securities may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from U.S. registration requirements and applicable U.S. state securities laws.

For further information contact:

Fraser Atkinson, CEO
(604) 220-8048
fraser@greenpowermotor.com

Michael Sieffert, CFO
Michael.Sieffert@greenpowermotor.com

Brendan Riley, President
Brendan@greenpowermotor.com

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 van 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. For further information go to www.greenpowermotor.com

Forward-Looking Statements

This document contains forward-looking statements relating to, among other things, GreenPower's business and operations and the environment in which it operates, which are based on GreenPower's operations, estimates, forecasts and projections. 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. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict, such as whether the Company will continue to optimize its operations and focus on initiatives that drive sustainable growth, or whether the Company will continue to meet all of the requirements to maintain its Nasdaq exchange listing, . A number of important factors including those set forth in other public filings could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Consequently, readers should not place any undue reliance on such forward-looking statements. In addition, these forward-looking statements relate to the date on which they are made. GreenPower disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

Not for Distribution to United States News Wire Services or for Dissemination in the United States

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/310264

FAQ

What did GreenPower Motor (NASDAQ: GP) announce on August 18, 2026?

GreenPower Motor announced completion of the fourth tranche of its Series A Convertible Preferred Share financing, issuing 1,500 preferred shares for gross proceeds of US$1,425,000. According to GreenPower, this tranche was conducted under its existing Securities Purchase Agreement with an institutional investor.

How much capital did GreenPower (GP) raise in the fourth tranche of its preferred share financing?

GreenPower raised US$1,425,000 in gross proceeds from issuing 1,500 Series A Convertible Preferred Shares. According to GreenPower, this capital was raised through a private placement with an institutional investor under its November 14, 2025 Securities Purchase Agreement, as amended June 30, 2026.

What are the conversion terms of GreenPower’s Series A Convertible Preferred Shares (GP)?

Each Series A Convertible Preferred Share may convert into common shares using 105% of stated value divided by 125% of the prior-day NASDAQ closing price. According to GreenPower, additional amounts owing to the investor at conversion are also included in the numerator for this calculation.

Who is the institutional investor in GreenPower’s Series A Convertible Preferred Share facility?

GreenPower describes the counterparty as an institutional investor but does not name it in this announcement. According to GreenPower, the Series A Convertible Preferred Shares are issued through a financing facility established under a Securities Purchase Agreement dated November 14, 2025.

What fees does GreenPower (NASDAQ: GP) pay for this preferred share offering?

GreenPower will pay a 5% cash placement fee on the cash proceeds raised in the offering to Digital Offering LLC. According to GreenPower, this fee is paid under an engagement letter dated October 29, 2025, reducing net proceeds from the tranche.

Is GreenPower’s August 18, 2026 preferred share financing offered to U.S. investors?

The financing is a private placement and not a general offer or solicitation in the United States. According to GreenPower, the securities cannot be offered or sold in the U.S. without registration or an applicable exemption under U.S. federal and state securities laws.

What type of vehicles does GreenPower Motor (GP) produce with funds from its business operations?

GreenPower designs, builds and distributes all-electric medium and heavy-duty vehicles, including transit buses, school buses, shuttles, cargo vans and cab-and-chassis products. According to GreenPower, these vehicles use purpose-built, battery-electric platforms with zero emissions and standardized components for maintenance and warranty efficiency.