GreenPower Regains Compliance with Nasdaq's Equity Requirement

Core Viewpoint - GreenPower Motor Company has regained compliance with Nasdaq's equity requirement, allowing it to continue trading on the Nasdaq Capital Market [1] Financial Transactions - The company raised new capital through an equity offering of Series A Convertible Preferred Shares for up to $18 million [1] - GreenPower secured term loans totaling $5 million and established a new banking relationship with CIBC, which includes a line of credit and term loan [1] - The company exchanged $7 million of related party loans for convertible debentures and $3 million of related party loans for Series B Convertible Preferred Shares [1] Compliance and Monitoring - Despite regaining compliance, GreenPower will be monitored by a Panel for one year [1] - If the company fails to maintain compliance during this period, it may face delisting without the opportunity to present a compliance plan [1] - The company retains the right to request a hearing before the Hearings Panel, which would stay any suspension or delisting action pending the hearing process [1] Company Overview - GreenPower designs, builds, and distributes a range of all-electric medium and heavy-duty vehicles, including transit buses, school buses, shuttles, and cargo vans [1] - The company employs a clean-sheet design approach to manufacture zero-emission vehicles, integrating global suppliers for key components [1]