Greenwave Technology Solutions (NASDAQ: GWAV), an operator of metal recycling facilities in Virginia, North Carolina, and Ohio, announced it will implement a 1-for-110 reverse stock split of its common stock, effective at 5 p.m. EST on Friday, August 22, 2025. The stock will continue trading on the Nasdaq Capital Market under the symbol GWAV and begin trading on a reverse split-adjusted basis when the market opens Monday, August 25, 2025, under new CUSIP number 57630J 502. The move is intended to boost the per-share trading price and help the Company regain compliance with Nasdaq’s minimum bid price requirement. Following the split, Greenwave’s outstanding common shares will be reduced from 62,794,283 to approximately 570,858, with proportional adjustments applied to options and warrants. Fractional shares will not be issued; any fractional interest will be rounded up to the nearest whole share.
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About Greenwave
Greenwave Technology Solutions, Inc., through its wholly owned subsidiary Empire Services, Inc., is an operator of 13 metal recycling facilities in Virginia, North Carolina, and Ohio. The Company’s recycling facilities collect, classify, and process raw scrap metal (ferrous and nonferrous) and implement several unique technologies to increase metal processing volumes and operating efficiencies, including a downstream recovery system and cloud-based ERP system.
Steel is one of the world’s most recycled products with the ability to be re-melted and re-cast numerous times. Recycling steel provides key environmental benefits over virgin metals, including reduced energy use, lower CO2 emissions, lower waste, and conserving natural resources. The Company’s customers include large corporations, industrial manufacturers, retail customers, and government organizations. The Company plans to aggressively expand its footprint of locations by acquiring independent, profitable scrap yards in the coming months. For more information, please visit www.GWAV.com .
NOTE TO INVESTORS: The latest news and updates relating to PLG are available in the company’s newsroom at https://ibn.fm/GWAV
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