GreenPower Proposes 1-for-5 Share Consolidation to Regain Nasdaq Compliance
GreenPower Motor Company plans a one-for-five consolidation of its common shares, cutting the count from 10,503,546 to roughly 2,100,709 to regain compliance with Nasdaq's $1 minimum bid price rule.
- 1 new share for every 5 current shares
- 10,503,546
- Approximately 2,100,709
- $1 per share
What Happened
GreenPower Motor Company Inc. announces that it intends to complete a consolidation of its issued and outstanding common shares on the basis of one new post-consolidated share for every five currently outstanding shares. The company anticipates the consolidation will reduce outstanding shares from 10,503,546 to approximately 2,100,709 post-consolidated shares, subject to adjustment for rounding. The consolidation is being undertaken to regain compliance with Nasdaq listing rules requiring a minimum bid price of $1 per share. The transaction is subject to approval by the Nasdaq Stock Exchange.
- 10,503,546
- Approximately 2,100,709
- One new share for every five current shares
$1per share
The listing rule GreenPower is trying to regain compliance with through the consolidation.
- No change to the company's name or its current trading symbol.
- No fractional post-consolidated shares will be issued.
- Shareholders entitled to a fraction will be rounded up to the nearest whole post-consolidated share.
- No cash consideration will be paid for fractional shares.
- Exercise price and number of shares issuable on exercise of outstanding options and warrants, and conversion of outstanding convertible debentures, will be proportionally adjusted.
- The effective date will be announced in a subsequent news release.
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, a cargo van and a cab and chassis. It employs a clean-sheet design to manufacture all-electric vehicles that are purpose built to be battery powered with zero emissions, integrating global suppliers for key components. The company says this OEM platform allows it to meet the specifications of various operators while providing standard parts for ease of maintenance and accessibility for warranty requirements.
Previously from GreenPower Motor Company
GreenPower has dealt with Nasdaq listing-rule issues earlier in 2026: in February the company regained compliance with Nasdaq's equity listing requirement after raising capital and restructuring debt. Today's proposed consolidation targets a different listing standard — Nasdaq's $1 minimum bid price.
Background drawn from MotorClaw's earlier coverage of GreenPower Motor Company's official releases.
Why this matters
The move is aimed at keeping GreenPower listed on Nasdaq, where shares must trade above $1. For existing shareholders, the number of shares they hold shrinks while the proportional stake stays the same, and the company warns it may not win exchange approval. Future announcements will set the consolidation's effective date.
Terms in This Story
- Share consolidation
- A corporate action that combines several existing shares into a single new share, reducing the total number of shares outstanding while the holders' proportional ownership stays the same.
- Minimum bid price requirement
- A stock exchange rule that a listed company's share price must stay at or above a set level; falling below it can put the listing at risk.
- Convertible debentures
- Debt instruments that can be converted into shares of the issuing company under set terms.
- Warrant
- A security that gives its holder the right to buy shares of a company at a specified price within a specified period.
Summarised from the linked release; details can be imperfect — always verify against the original source.