Greenwave Technology Solutions Inc. will implement a 1-for-110 reverse stock split of its common stock effective August 22, 2025. The metal recycling facility operator announced the move to increase its per-share trading price and regain compliance with Nasdaq's minimum bid price requirement. This corporate action represents a strategic effort to maintain the company's listing on the Nasdaq Capital Market, as companies facing delisting due to sub-dollar stock prices often employ reverse splits to meet exchange 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 a reverse split-adjusted basis will begin when markets open on August 25, 2025, under the existing GWAV symbol but with a new CUSIP number 57630J 502. The timing coincides with Greenwave's expansion plans through its subsidiary Empire Services, Inc., which operates metal recycling facilities that process both ferrous and nonferrous scrap metals.
The company utilizes several technologies to enhance metal processing volumes and operating efficiencies, including a downstream recovery system and cloud-based ERP system. As noted in their corporate information available at https://www.GWAV.com, steel recycling provides significant environmental benefits over virgin metals, including reduced energy consumption, lower CO2 emissions, decreased waste, and conservation of natural resources. For investors seeking additional information, the company maintains a newsroom at https://ibn.fm/GWAV where updates and announcements are regularly posted.
The reverse stock split decision reflects management's commitment to preserving shareholder value while positioning the company for future growth in the competitive metal recycling industry. This move is particularly important as Greenwave operates 13 locations across Virginia, North Carolina, and Ohio, making its Nasdaq listing crucial for maintaining investor confidence and access to capital markets. The successful implementation of this reverse split could help stabilize the stock price and provide the company with better opportunities to execute its strategic expansion plans in the environmentally critical metal recycling sector.
