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VANCOUVER - Electric vehicle manufacturer GreenPower Motor Company Inc. (NASDAQ:GP) (TSXV:GPV) announced Monday that the TSX Venture Exchange has approved its previously disclosed 10-for-1 share consolidation plan, which will take effect at market open on August 28, 2025. The announcement comes as the company’s stock trades at $0.35, having declined nearly 65% over the past year, according to InvestingPro data.
Following the consolidation, GreenPower’s approximately 30.46 million outstanding common shares will be reduced to about 3.05 million shares. The company will maintain its current ticker symbols "GPV" on the TSX Venture Exchange and "GP" on the Nasdaq Stock Exchange.
According to the announcement, shareholders who would otherwise receive fractional shares will have their holdings rounded up to the nearest whole number, with no cash consideration provided for fractional shares.
The consolidation will proportionally adjust the exercise price and number of shares issuable upon exercise of outstanding options and warrants, as well as the conversion terms for outstanding convertible debentures.
Computershare Investor Services Inc. will distribute letters of transmittal to shareholders with instructions for exchanging pre-consolidation share certificates for post-consolidation certificates.
GreenPower Motor Company designs and manufactures all-electric medium and heavy-duty vehicles, including transit buses, school buses, shuttles, and cargo vans. The company has been listed on the Toronto exchange since November 2015 and completed its U.S. IPO and NASDAQ listing in August 2020.
The announcement follows the company’s initial disclosure of the consolidation plan in a news release dated August 20, 2025.
In other recent news, GreenPower Motor Company Inc has secured a contract with the state of New Mexico for an all-electric school bus pilot project valued at over $5 million. This two-year pilot program will introduce three Type A all-electric Nano BEAST Access school buses in the 2025-26 school year. Following this, three Type D all-electric BEAST and Mega BEAST school buses are scheduled for deployment in the 2026-27 school year. The agreement encompasses vehicle purchases, charging infrastructure costs, and overall project management. These developments highlight GreenPower’s ongoing efforts to expand its presence in the electric vehicle market. The pilot project aims to assess the viability and performance of electric school buses in New Mexico’s educational transportation system. This initiative represents a significant step forward in the adoption of electric transportation solutions in the region.
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