Greenwave Technology Solutions announces 1-for-110 reverse stock split

CHESAPEAKE, VA - Greenwave Technology Solutions, Inc. (NASDAQ:GWAV), a metal recycling facility operator in Virginia, North Carolina, and Ohio, announced Wednesday it will implement a 1-for-110 reverse stock split of its common stock effective August 22, 2025. The announcement comes as the company’s stock, currently trading at $0.17, has declined about 76% year-to-date, according to InvestingPro data.

The company’s shares will begin trading on a split-adjusted basis when markets open on Monday, August 25, 2025, while maintaining its current NASDAQ:GWAV ticker symbol.

The reverse split aims to increase the per-share trading price to regain compliance with NASDAQ Capital Market’s minimum bid price requirement for continued listing.

Following the split, Greenwave’s outstanding shares will decrease from approximately 62.8 million to about 570,858 shares. Any fractional shares resulting from the split will be rounded up to the nearest whole share.

Shareholders with electronic book-entry holdings will not need to take action, while those holding physical certificates will receive instructions from the company’s transfer agent for exchanging them.

The split will also trigger proportional adjustments to the number of shares issuable upon exercise of the company’s options and warrants, as well as their exercise prices.

Greenwave operates 13 metal recycling facilities across three states, processing ferrous and nonferrous scrap metal. The information in this article is based on a company press release.

In other recent news, Greenwave Technology Solutions has scheduled its 2025 annual meeting of stockholders for August 13, 2025. The board of directors announced that July 17, 2025, will be the record date for determining stockholder eligibility to receive notice of and vote at the meeting. The company noted that the 2025 annual meeting date is set more than 30 days from the anniversary of the previous year’s meeting. Further information, including time, location, and agenda items, will be detailed in the upcoming proxy statement. These updates reflect the company’s ongoing governance activities.

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