Greenwave Technology Solutions, Inc. Enters Into Agreement for Registered Direct Offering and Concurrent Private Placement

On February 10, 2025, Greenwave Technology Solutions, Inc. (the “Company”) announced that it has entered into a securities purchase agreement with certain institutional and accredited investors for a registered direct offering and concurrent private placement. The Company agreed to sell 21,100,000 shares of common stock at a purchase price of $0.3337 per share, along with warrants to purchase up to 21,100,000 shares of common stock, resulting in gross proceeds of approximately $7 million before fees and expenses.

The securities purchase is being made under the Company’s shelf registration statement on Form S-3, utilizing a prospectus supplement and accompanying prospectus to be filed with the Securities and Exchange Commission (SEC). The warrants and accompanying shares were not offered under the registration statement but instead through an exemption from the registration requirements of the Securities Act of 1933.

The warrants will become exercisable upon stockholder approval, with an exercise price of $0.3337 per share and a five-year expiration date from the approval. A registration statement will be filed with the SEC to cover the resale of the warrant shares within 20 calendar days following the agreement date.

If certain conditions are met, including approval from the Company’s stockholders and effectiveness of a registration statement, the Company has the option to redeem the warrants under specified circumstances.

Proceeds from the offering are intended for debt repayment and working capital purposes, with the closing of the transaction expected around February 11, 2025, pending customary conditions. Dawson James Securities, Inc. is acting as the placement agent for the offering, with terms including a cash fee of 6% of gross proceeds and issuance of warrants to purchase 2,110,000 shares of common stock.

Legal opinions regarding the offering are provided in the form of exhibits attached to the Current Report on Form 8-K. The transaction falls under unregistered sales of equity securities based on exemptions from registration requirements provided by the Act and applicable regulations.

The Company has shown diligent efforts to comply with regulations and ensure transparency in offering these securities to investors.

The Company’s Chief Executive Officer, Danny Meeks, signed the report on February 11, 2025, in accordance with Securities Exchange Act of 1934 requirements.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read MassRoots’s 8K filing here.

MassRoots Company Profile

MassRoots, Inc engages in the development and provision of social media network for the cannabis community. It offers WeedPass, a rewards program which enables consumers to earn tickets to movies, sporting events, and festivals by shopping at participating dispensaries. The company was founded by Isaac Dietrich, Stewart Fortier, Tyler Knight, and Hyler Fortier in April 2013 and is headquartered in Denver, CO.