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Greenpower Motor Company Inc
Symbol GPV
Shares Issued 109,519,751
Close 2020-08-25 C$ 3.17
Recent Sedar Documents

Greenpower Motor arranges U.S. IPO

2020-08-25 11:05 ET - News Release

An anonymous director reports

GREENPOWER ANNOUNCES LAUNCH OF ITS U.S. INITIAL PUBLIC OFFERING

Greenpower Motor Company Inc. has launched its initial public offering in the United States of 1.5 million common shares pursuant to a registration statement filed with the Securities and Exchange Commission (SEC). Greenpower expects to grant the underwriters a 30-day option to purchase up to an additional 225,000 common shares at the initial public offering price less the underwriting discounts and commissions.

Greenpower has applied to have its common shares approved for listing on the Nasdaq Capital Market under the symbol GP.

Prior to this offering, the common shares of Greenpower have traded on the TSX Venture Exchange under the symbol GPV and on the OTCQB under the symbol GPVRF. In connection with this offering, Greenpower intends to effect a consolidation of its common shares on the basis of one new common share for seven old common shares.

Greenpower intends to use the net proceeds from this offering for the production of all-electric vehicles, including EV Stars, EV Star plus, EV Star cab and chassis, and B.E.A.S.T. school buses, EV250 30-foot low-floor transit-style buses, product development, and geographic expansion, with the remainder, if any, for working capital.

Concurrently with the closing of this offering, in a separate private placement pursuant to Regulation S under the Securities Act of 1933, Greenpower plans to sell common shares for proceeds of up to $500,000 (U.S.) to the company's executive chairman and chief executive officer, Fraser Atkinson, at a price per share equal to the price to the public, and without payment by the company of any underwriting discount or commission.

B. Riley FBR is serving as the lead bookrunning manager in the offering. Roth Capital Partners is also serving as a bookrunning manager in the offering. ThinkEquity, a division of Fordham Financial Management Inc., Maxim Group LLC and PI Financial (U.S.) Corp. are serving as co-managers in the offering.

The underwriters will not, directly or indirectly, solicit offers to purchase or sell the company's common shares in Canada.

The offering of these securities may be made only by means of a prospectus.

About Greenpower Motor Company Inc.

Greenpower designs, builds and distributes a full suite of high-floor and low-floor vehicles, including transit buses, school buses, shuttles and a double-decker. Greenpower employs a clean-sheet design to manufacture all-electric buses that are purpose built to be battery powered with zero emissions.

We seek Safe Harbor.

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