GreenPower Announces US$2.3 Million Public Offering
Summary
In addition, the Company granted the underwriter a 45-day option to purchase up to an additional 5 percent of the number of common shares and/or warrants offered in the Offering.Maxim Group LLC is acting as sole book-running manager for the Offering.GreenPower currently intends to use the net proceeds from the Offering for the production of all- electric vehicles, including BEAST school buses and EV Star commercial vehicles, as well as for product development, with the remainder, if any, for general corporate purposes. GreenPower employs a clean-sheet design to manufacture all-electric vehicles that are purpose-built to be battery powered with zero emissions while integrating global suppliers for key components. This OEM platform allows GreenPower to meet the specifications of various operators while providing standard parts for ease of maintenance and accessibility for warranty requirements. GreenPower was founded in Vancouver, Canada with primary operational facilities in southern California.This press release contains forward-looking statements with the meaning of applicable securities laws. These statements generally can be identified by the use of forward- looking words such as upon, may, should, will, could, intend, estimate, plan, anticipate, expect, believe or continue, or the negative thereof or similar variations.