Greenwave Technology Solutions, Inc. (GWAV): debt financing — Greenwave expects positive EBITDA in 2023; downstream processing generating $38k/day; secures $15M financing

Greenwave Technology Solutions, Inc.

Downstream processing system at Kelford, NC operational; averaging $38k/day revenue with >80% margins; targeting >$1M/month by end of 2023.
Second automotive shredder expected to commence Q3 2023, doubling ferrous metal processing capacity; Company expects positive EBITDA for FY 2023.
Cleveland facility generating ~$100k/month; expects ramp to >$500k/month in 2024; shear baler to commence in August 2023.
Closed $15M private placement of senior secured convertible notes and warrants; proceeds to retire factoring advances and reduce equipment debt.
CEO Danny Meeks exchanged Series Z Preferred for 1,013,500 common shares; sold real property to company for $17.2M secured note.

item 1.01 item 2.03 item 3.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Greenwave Technology Solutions, Inc. incurred senior notes of approximately $15,000,000 with certain institutional investors at 18% per annum maturing July 31, 2025.

Instrument: senior notes
Principal: approximately $15,000,000
Counterparty: certain institutional investors
Rate: 18% per annum
Maturity: July 31, 2025
Event: incurrence

Exact text from the filing

On July 31, 2023, Greenwave Technology Solutions, Inc. (the “Company”) entered into a Purchase Agreement (the “Purchase Agreement”) with certain institutional investors as purchasers (the “Investors”). Pursuant to the Purchase Agreement, the Company sold, and the Investors purchased, approximately $15,000,000

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Greenwave Technology Solutions, Inc. entered into Purchase Agreement with certain institutional investors valued at approximately $15,000,000 (effective 2023-07-31).

Action: entry
Agreement: equity purchase
Counterparty: certain institutional investors
Value: approximately $15,000,000
Effective: 2023-07-31

Exact text from the filing

On July 31, 2023, Greenwave Technology Solutions, Inc. (the “Company”) entered into a Purchase Agreement (the “Purchase Agreement”) with certain institutional investors as purchasers (the “Investors”).

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.85

Greenwave Technology Solutions, Inc. entered into Warrant Repricing Agreement with the holders of common stock purchase warrants (effective 2023-07-31).

Action: entry
Agreement: equity purchase
Counterparty: the holders of common stock purchase warrants
Effective: 2023-07-31

Exact text from the filing

On July 31, 2023, the Company entered into a letter agreement (the “Warrant Repricing Agreement”) with the holders (the “Holders”) of common stock purchase warrants

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7 debt financings filed in the last 30 days. Browse all debt financings →

Greenwave Technology Solutions, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-026622

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