Greenwave amends senior convertible notes, lowering conversion price to $0.05

Greenwave Technology Solutions, Inc.

Amendment dated May 3, 2024 to $15M Senior Secured Convertible Notes issued July 31, 2023.
Conversion price reduced to $0.05 per share, subject to standard anti-dilution adjustments.
Certain conversion price adjustment mechanisms were also modified in the amendment.
Noteholders are institutional investors who participated in the original July 2023 offering.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Greenwave Technology Solutions, Inc. amended Amendment to Senior Secured Convertible Promissory Note with certain institutional investors as purchasers (the "Investors") (effective 2024-05-03).

Action: amendment
Agreement: notes offering
Counterparty: certain institutional investors as purchasers (the "Investors")
Effective: 2024-05-03

Exact text from the filing

On May 3, 2024, the Company and the Investors entered into an Amendment to Senior Secured Convertible Promissory Note (the "Note Amendment"), pursuant to which the Senior Notes were amended to, among other things, amend (i) the conversion price of the Senior Notes to $0.05, subject to adjustment under certain circumstances described in the Senior Notes and (ii) certain of the conversion price adjustment mechanisms.

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Source: SEC EDGAR

accession 0001493152-24-017743

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