Greenwave Technology Solutions, Inc. ("Greenwave" or the "Company") (Nasdaq: GWAV), an operator of metal recycling facilities in
At the effective time of the reverse stock split, every 150 shares of the Company's issued and outstanding Common Stock will be converted automatically into one issued and outstanding share of Common Stock without any change in the par value per share. Stockholders holding their shares electronically in book-entry form are not required to take any action to receive post-reverse split shares. Stockholders owning shares through a bank, broker, or other nominee will have their positions automatically adjusted to reflect the reverse stock split, subject to brokers' particular processes, and will not be required to take any action in connection with the reverse stock split. For those stockholders holding physical stock certificates, the Company's transfer agent, Equity Stock Transfer, will send instructions for exchanging those certificates for shares held electronically in book-entry form or for new certificates, in either case representing the post-reverse split number of shares.
The reverse stock split will affect all stockholders uniformly and will not alter any stockholder's percentage interest in the Company's equity, except to the extent that the reverse stock split would result in a stockholder owning a fractional share. No fractional shares will be issued in connection with the reverse stock split. Any fractional interest in Common Stock will be rounded up to the nearest whole share of Common Stock.
The reverse stock split will reduce the number of shares of Common Stock outstanding from 1,132,490,847 shares, the number of shares outstanding on
SWAV: is this perennial leader facing new challenges?
With valuations skyrocketing in 2024, many investors are uneasy putting more money into stocks. Sure, there are always opportunities in the stock market – but finding them feels more difficult now than a year ago. Unsure where to invest next? One of the best ways to discover new high-potential opportunities is to look at the top performing portfolios this year. ProPicks AI offers 6 model portfolios from Investing.com which identify the best stocks for investors to buy right now. For example, ProPicks AI found 9 overlooked stocks that jumped over 25% this year alone. The new stocks that made the monthly cut could yield enormous returns in the coming years. Is SWAV one of them?
Unlock ProPicks AI to find out