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GreenPower Motor Company Inc. reported the completion of the fourth tranche of its Series A Convertible Preferred Share financing with an institutional investor. The company issued 1,500 Series A Convertible Preferred Shares in a private placement for gross proceeds of US$1,425,000 under a previously signed Securities Purchase Agreement.
Each preferred share may be converted into common shares at a rate based on 105% of the stated value plus any additional amounts owing, divided by 125% of the prior-day NASDAQ closing price of the common shares. GreenPower paid Digital Offering LLC a 5% cash placement fee on the proceeds. The disclosure is also incorporated by reference into existing Form F-3 and Form S-8 registration statements.
GreenPower Motor Company Inc. designs and sells all-electric medium- and heavy-duty vehicles, including school buses and commercial trucks, operating primarily in the United States and Canada. For the fiscal year ended March 31, 2026, it generated revenue of $16.4 million and recorded a net loss of $5.5 million, bringing its accumulated deficit to $103.0 million. Revenue has declined from $39.7 million in 2023 and $19.8 million in 2025, and vehicle deliveries fell to 25 units in 2026.
The company discloses substantial doubt about its ability to continue as a going concern, citing ongoing losses, negative operating cash flows, dependence on external financing, and a capital-intensive business model. It faces risks from tariff-driven cost increases, supply-chain and shipping volatility, and heavy reliance on government incentives and grant programs for zero-emission vehicles. GreenPower has canceled a major contract with Workhorse, recognized $9.6 million of previously deferred deposits as revenue on cancellations, and now seeks alternative buyers for roughly 100 EV Star cab-and-chassis units.
To support liquidity and equity, GreenPower has used equity offerings, at-the-market issuances, related-party loans, new bank facilities with CIBC, and Series A and B convertible preferred shares. It is consolidating facilities and reducing headcount to cut costs while emphasizing school buses and EV Star-based commercial vehicles.
GreenPower Motor Company Inc., a manufacturer of all-electric medium and heavy-duty vehicles, reported results for the three months ended June 30, 2026. Revenue was $439,148, down from $1,549,467 a year earlier as no vehicles were sold in the quarter; revenue came mainly from service, parts, and lease income. Gross profit was broadly flat at $350,084 versus $361,682, with gross margin rising to 79.7% due to an $80,664 inventory recovery and higher-margin service revenue.
Sales, general and administrative costs fell to $1,962,984, a reduction of just over 50% from the prior year, reflecting significant headcount and cost cuts. The net loss narrowed to $2,396,888 (loss per share $0.42) from $4,163,851 (loss per share $1.40). Adjusted EBITDA improved to a loss of $1,479,286 from a loss of $3,009,501.
Liquidity remains tight with cash of only $17,557, though working capital was $8,646,005 and equity increased to $3,162,716 helped by converting related-party loans and convertible debentures into $2,192,000 of Series B preferred shares and converting 1,351 Series A preferred shares into common equity. Total assets were $31,170,088, including inventory of $24,215,546. The company has substantial debt, including a CIBC line of credit of $2,056,535, an EDC revolving term facility of $3,588,467, and convertible debentures of $4,349,076. Management discloses material uncertainty casting substantial doubt on the ability to continue as a going concern and notes non-compliance with debt service coverage ratio covenants on key credit facilities.
GreenPower Motor Company Inc. reports that the British Columbia Securities Commission has revoked the cease trade order issued on July 6, 2026, which arose after the company missed Canadian filing deadlines for its year-end reports. The revocation on July 10, 2026 follows GreenPower’s completion of its required annual Canadian securities filings. Trading of GreenPower’s shares under ticker GP on the Nasdaq was not affected by the Canadian order. The company’s U.S. securities filings for the same year-end are due by July 31, 2026.
GreenPower Motor Co Inc., a British Columbia corporation, has conducted an exempt private offering of securities under Rule 506(b) of Regulation D. The notice reports securities sold for a total of $1,425,000 USD, with no remaining amount unsold.
The securities consist of 1,500 Series A Convertible Preferred Shares, which are convertible into common shares, along with related equity rights. The date of first sale was 2026-06-30. Digital Offering LLC is named in the sales compensation section, and finders' fees are reported as $0.
GreenPower Motor Company Inc. reports audited results for the year ended March 31, 2026 and details significant balance-sheet restructuring and financing activity. Revenue was $16,388,579 with a loss for the year of $5,476,778, leaving shareholders’ equity at $1,548,794 and total assets of $30,688,219.
During the June 30, 2026 quarter, Series A preferred shares of $1,643,214 were converted into common stock, warrants were exercised for $200,000 cash, shares were issued to settle $371,000 of accrued interest, and $2,082,400 of related-party debt was converted into Series B preferred shares. A pro forma table shows shareholders’ equity of $5,333,556 before the subsequent period loss. Auditors highlight recurring losses and an accumulated deficit of $103,036,910 that raise substantial doubt about the company’s ability to continue as a going concern. Management points to inventory sales, credit facilities, preferred share financing and potential conversion of $5,442,000 of related-party convertible debentures as key funding sources, noting up to $22 million of additional equity available through remaining Series A capacity and debenture conversion.
GreenPower Motor Company Inc. reports that the British Columbia Securities Commission issued a cease trade order on July 6, 2026 because the company missed the June 29, 2026 Canadian deadline to file its audited financial statements and related annual disclosures for the year ended March 31, 2026. These documents, referred to as the Annual Filings, include the financial statements, management’s discussion and analysis, certifications and annual information form. Trading of GreenPower’s shares on Nasdaq under the ticker GP is not affected, and U.S. filings remain due by July 31, 2026. The company states it is working with its auditors to complete the Annual Filings, after which the cease trade order will be revoked.
GreenPower Motor Company Inc. reported completing several balance sheet transactions in the quarter ended June 30, 2026 that are expected to increase shareholder's equity by approximately $3.8 million. These actions largely convert existing obligations owed to related parties into preferred or common equity.
The company exchanged about $1.6 million of related party convertible debentures and $0.5 million of related party loans into 2,192 Series B Convertible Preferred Shares with a stated value of $1,000 per share and a 9% annual dividend, convertible into common shares at US$1.975 per share. GreenPower also converted 1,351 Series A Convertible Preferred Shares, recorded as a $1.6 million liability as of March 31, 2026, into approximately 1.5 million common shares, moving this amount into shareholder's equity.
In addition, the company issued 257,638 common shares at $1.44 per share to settle about $0.4 million of accrued interest owed to related parties on convertible debentures, and a related party exercised 256,410 warrants at $0.78 per share for gross proceeds of $0.2 million, receiving 256,410 common shares. All of these are classified as related party transactions under MI 61-101 but are exempt from formal valuation and minority approval requirements under specified sections.
GreenPower Motor Company Inc. completed the third tranche of its Series A Convertible Preferred Share financing. On June 30, 2026, the company issued 1,500 Series A Convertible Preferred Shares in a private placement for gross proceeds of US$1,425,000 to an institutional investor under a November 14, 2025 Securities Purchase Agreement. The parties also amended the agreement to increase the aggregate stated value of Series A Convertible Preferred Shares issuable by US$2 million, expanding the capacity of the financing facility. Each preferred share is convertible into common shares based on a formula tied to 105% of stated value and 125% of the NASDAQ closing price before issuance, which could lead to future equity dilution. GreenPower will pay Digital Offering LLC a cash placement fee equal to 5% of the cash proceeds raised in this offering.
GreenPower Motor Company Inc. reported a board change, announcing that director Sebastian Giordano resigned from the Board of Directors effective May 1, 2026. He will remain involved with the company in a new advisory role, supporting a smooth transition and offering strategic guidance on key initiatives.