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, which runs 13 locations 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 requirement. This corporate action represents a strategic effort to maintain the company's listing on the Nasdaq Capital Market. 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 it allows Greenwave to maintain access to public capital markets, which is crucial for funding ongoing operations and expansion initiatives. The metal recycling industry plays a vital role in sustainable resource management, and maintaining a Nasdaq listing provides Greenwave with greater visibility and credibility among investors focused on environmental, social, and governance factors.
Reverse stock splits are often viewed by investors as a defensive measure, but in this context, it serves as a necessary step to comply with exchange regulations while the company continues to execute its business strategy. The preservation of the Nasdaq listing enables continued transparency through regular financial reporting and maintains liquidity for existing shareholders. As environmental concerns drive increased demand for recycled materials, Greenwave's ability to maintain its market position through this corporate action supports its long-term viability in an industry that contributes significantly to circular economy objectives.
