US EditionGreenPower Closes First Tranche of Term Loan Offering
- On May 15, 2025, in Vancouver, BC, GreenPower Motor Company Inc. Completed the initial portion of its secured term loan financing, raising a total of US $500,000.
- The company secured loans from entities owned by its CEO and a Director, classifying the transactions as related party dealings under MI 61-101, with applicable exemptions.
- The loan is secured by a general security agreement subordinated to senior debt, bears 12% annual interest starting on the advance date, and matures in two years.
- Management intends to use the loan funds to support manufacturing expenses, settle obligations to vendors, cover employee compensation, and maintain operational liquidity, though actual expenditures may vary and carry associated risks.
- GreenPower, a manufacturer of all-electric medium and heavy-duty vehicles serving transit, cargo, and school bus sectors, will comply with a statutory hold period on related securities.
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GreenPower Closes First Tranche of Term Loan Offering
VANCOUVER, BC, May 15, 2025 /PRNewswire/ -- GreenPower Motor Company Inc. (Nasdaq: GP) (TSXV: GPV) ("GreenPower" and the "Company"), a leading manufacturer and distributor of all-electric, purpose-built, zero-emission medium and heavy-duty vehicles serving the cargo and delivery market, shuttle and…
GreenPower Closes First Tranche of Term Loan Offering - PressReach
VANCOUVER, BC, May 15, 2025 /PRNewswire/ — GreenPower Motor Company Inc. (Nasdaq: GP) (TSXV: GPV) (“GreenPower” and the “Company”), a leading manufacturer and distributor of all-electric, purpose-built, zero-emission medium and heavy-duty vehicles serving the cargo and delivery market, shuttle and transit space and school bus sector, announces the closing of the first tranche of its previously announced secured term loan offering for an aggregat…
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