GreenPower Announces Effective Date of Share Consolidation

GreenPower Motor Company (NASDAQ: GP) will implement a one-for-five share consolidation at market opening on October 19, 2026.

Rhea-AI Summary

GreenPower Motor Company (NASDAQ: GP) will implement a one-for-five share consolidation at market opening on October 19, 2026.

Nasdaq has approved the consolidation. Issued and outstanding common shares will move from 10,503,546 to 2,100,710, subject to rounding adjustments. The trading symbol will remain GP. Fractional share entitlements will be rounded up to whole shares, with no cash paid. Exercise prices and share counts associated with outstanding options, warrants and convertible debentures will be proportionally adjusted under their terms.

Positive

• Minor pointNasdaq approval obtained for the one-for-five common share consolidation.

Negative

• None.

News Explained

The company states it has no maximum number of authorized shares; the post-consolidation outstanding-share count therefore does not set a ceiling on authorized shares, which are distinct from shares currently outstanding.

Argus 15 min delay 56 alerts

+18.64% vs previous close $0.32 last price 2167.6x rel. volume Open Argus

Details

Market move: GP +18.64% vs previous close. 1-for-5 share consolidation

+10.7% Peak Tracked

-10.5% Trough Tracked

$0.29 – $1.32 Day Range

$3.40M Market Cap

On Oct 15, the day this news came out, the latest delayed price for GP is 18.64% above the previous close. Argus tracked a peak move of +10.7% during the session. Argus tracked a trough of -10.5% from its starting point during tracking. Our momentum scanner has recorded 56 alerts for this stock so far that day. The latest delayed price is $0.32. Relative volume is exceptionally heavy at 2167.6x the average.

Data tracked by StockTitan Argus (15 min delayed). Upgrade to Gold for real-time data.

Key Figures

Consolidation ratio: 1-for-5 Effective date: October 19, 2026 Shares outstanding before consolidation: 10,503,546 shares +1 more

Consolidation ratio

1-for-5

One new share for every five currently outstanding shares

Effective date

October 19, 2026

Consolidation effective at market opening

Shares outstanding before consolidation

10,503,546 shares

Currently issued and outstanding

Shares outstanding after consolidation

2,100,710 shares

Subject to adjustments for rounding

Historical Context

1 past event · Latest: Oct 05

1 event

1. Oct 05

   Share consolidation proposal

   24h Move

   -31.6%

   October 5 proposal set the 1-for-5 ratio and anticipated post-consolidation share count.

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

Key Terms

convertible debentures, letter of transmittal

2 terms

convertible debentures financial

"outstanding options, warrants and conversion of outstanding convertible debentures"

Convertible debentures are loans a company issues that pay interest like a bond but can be swapped later for the company’s shares at a set price. For investors they act like a safety-net plus a shortcut: you get regular interest payments while retaining the option to join ownership if the share price rises, which offers upside potential but can dilute existing shareholders if conversion occurs.

letter of transmittal financial

"mail letters of transmittal to the shareholders providing instructions"

A letter of transmittal is a written form investors use when sending physical stock certificates or electronic ownership documents to a company or its agent to surrender shares, tender them in an offer, or claim payment or replacement securities. It acts like a packing slip that lists what is enclosed, gives instructions on how the transfer should be handled, and provides proof of the transaction—important for ensuring investors receive the correct payment or new securities without delay or dispute.

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

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Vancouver, British Columbia--(Newsfile Corp. - October 15, 2026) - GreenPower Motor Company Inc. (NASDAQ: GP) ("GreenPower") announces that, further to its News Release of October 5, 2026, the Nasdaq Stock Exchange has approved the consolidation of its issued and outstanding common shares (the "Shares") on the basis of one new Share (a "Post-consolidated Share") for every five currently outstanding Shares (the "Consolidation"). The Consolidation will become effective at the opening of the market on October 19, 2026. The Company's symbol shall remain as "GP" on the Nasdaq Stock Exchange.

Currently, a total of 10,503,546 Shares are issued and outstanding. Accordingly, upon the Consolidation becoming effective, a total of 2,100,710 Shares, subject to adjustments for rounding, will be issued and outstanding. There is no maximum number of authorized Shares. No fractional Post-consolidated Shares will be issued as a result of the Consolidation. Shareholders who would otherwise be entitled to receive a fraction of a Post-consolidated Share will be rounded up to the nearest whole number of Post-consolidated Shares and no cash consideration will be paid in respect of fractional shares.

The exercise price and number of Shares of the Company, issuable upon the exercise of outstanding options, warrants and conversion of outstanding convertible debentures, will be proportionally adjusted upon the implementation of the proposed Consolidation in accordance with the terms thereof.

Computershare Investor Services Inc. ("Computershare") will mail letters of transmittal to the shareholders providing instructions on exchanging pre-Consolidation share certificates for post-Consolidation share certificates. Shareholders are encouraged to send their share certificates, together with their letter of transmittal, to Computershare in accordance with the instructions in the letter of transmittal.

For further information contact:

Fraser Atkinson, CEO
(604) 220-8048

Michael Sieffert, CFO
(604) 563-4144

Brendan Riley, President
(510) 910-3377

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.

©2026 GreenPower Motor Company Inc. All rights reserved.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/319185

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

When does GreenPower's GP share consolidation take effect, and what is the ratio?

GreenPower's consolidation takes effect at market opening on October 19, 2026, exchanging every five outstanding common shares for one new common share. The Nasdaq trading symbol will remain GP.

How will GreenPower handle fractional shares in the consolidation?

GreenPower will round up fractional post-consolidation share entitlements to the nearest whole share. No fractional shares will be issued, and no cash consideration will be paid for fractional shares.

How do GreenPower shareholders exchange their share certificates after the consolidation?

Shareholders should send their existing certificates and completed letter of transmittal to Computershare Investor Services following the letter's instructions. Computershare will mail the letters explaining how to exchange pre-consolidation certificates for post-consolidation certificates.