On March 29, 2024, Greenwave Technology Solutions Entered Into An Exchange Agreement With DWM Properties Whereby The Co And Holder Agreed To Exchange $10M Of Certain Secured Promissory Note, Dated July 31, 2023 For Shares Of The Co's Newly Created Series D Convertible Preferred Stock, Convertible Into The Co's Common Stock At $0.204 Per Share
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Greenwave Technology Solutions (GWAV) entered into an exchange agreement with DWM Properties to exchange $10M of a secured promissory note for shares of newly created Series D Convertible Preferred Stock, convertible into common stock at $0.204 per share.
April 01, 2024 | 12:57 pm
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Greenwave Technology Solutions has entered into an exchange agreement with DWM Properties, involving the exchange of a $10M secured promissory note for Series D Convertible Preferred Stock, which is convertible into GWAV's common stock at $0.204 per share.
The exchange agreement between GWAV and DWM Properties introduces new Series D Convertible Preferred Stock, which could potentially dilute the value of existing shares if converted into common stock. However, the impact on the stock price in the short term is uncertain, as it depends on the market's perception of this financial maneuver and its implications for the company's future growth and financial stability.
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