secwatch.observer — SEC 8-K summary
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Issuer:     Greenwave Technology Solutions, Inc. (GWAV)
CIK:        0001589149
Form:       8-K
Filed at:   2024-05-09T23:59:59+00:00
Accession:  0001493152-24-018511
Event type: other_material
Sentiment:  negative
Materiality: 0.60
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Greenwave Technology waives conversion prohibition on $15M senior notes, enabling conversion at low stock prices
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- On May 9, 2024, Greenwave and investors signed a Waiver Agreement removing the Conversion Prohibition from the March 2024 consent.
- The March consent had barred conversion of senior notes if the 3-day average closing price was below $0.25, effective until May 20, 2024.
- The waiver allows immediate conversion of the ~$15M senior secured convertible notes even at stock prices below $0.25.
- Potential dilution from conversion could further pressure GWAV stock, already trading near $0.20 range.
- The original $15M notes were issued in August 2023 under a Purchase Agreement with institutional investors.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1589149/000149315224018511/0001493152-24-018511-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1589149/000149315224018511/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-018511

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