Greenwave Technology Solutions Announces 1-for-110 Reverse Stock Split to Regain Nasdaq Compliance
TL;DR
Greenwave's reverse stock split boosts share price to meet Nasdaq requirements, potentially attracting investors and stabilizing the stock for competitive advantage.
Greenwave implements a 1-for-110 reverse stock split effective August 22, 2025, reducing shares from 62.8 million to 570,858 to comply with Nasdaq pricing rules.
Greenwave's metal recycling operations conserve natural resources and reduce CO2 emissions, making the world cleaner and more sustainable through efficient steel reuse.
Greenwave's reverse split turns 110 shares into one, a rare corporate move to maintain Nasdaq listing while expanding eco-friendly metal recycling facilities.
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Greenwave Technology Solutions Inc. (NASDAQ: GWAV) will implement a 1-for-110 reverse stock split of its common stock effective August 22, 2025. The metal recycling facility operator, which operates 13 facilities across Virginia, North Carolina, and Ohio, announced the move to increase its per-share trading price and regain compliance with Nasdaq's minimum bid price requirements.
The reverse split will reduce the company's outstanding common shares from 62,794,283 to approximately 570,858 shares. Proportional adjustments will be applied to outstanding options and warrants, with fractional shares being rounded up to the nearest whole share. Trading on the reverse split-adjusted basis will begin when markets open on Monday, August 25, 2025, under the existing GWAV symbol but with a new CUSIP number 57630J 502.
This corporate action is significant for investors and market observers as it reflects the financial pressures facing smaller publicly traded companies in maintaining exchange listing requirements. Nasdaq's minimum bid price rule requires companies to maintain a share price of at least $1.00, and reverse stock splits are commonly used as a mechanism to artificially boost share prices when natural market forces fail to achieve compliance.
The company's operations through its wholly owned subsidiary Empire Services, Inc. involve collecting, classifying, and processing raw scrap metal using several unique technologies to increase metal processing volumes and operating efficiencies. These include a downstream recovery system and cloud-based ERP system. Additional information about the company's operations is available at https://www.GWAV.com.
For the recycling industry, this development underscores the financial challenges even environmentally beneficial businesses face in capital markets. Steel recycling provides significant environmental advantages over virgin metal production, including reduced energy consumption, lower CO2 emissions, decreased waste, and conservation of natural resources. The company serves large corporations, industrial manufacturers, retail customers, and government organizations.
Investors seeking additional information about Greenwave can access the company's newsroom at https://ibn.fm/GWAV. The reverse stock split announcement represents a critical juncture for Greenwave as it attempts to maintain its public market presence while continuing its planned aggressive expansion through acquiring independent, profitable scrap yards in the coming months.
Curated from InvestorBrandNetwork (IBN)
