Greenwave acquires 7 core facilities from CEO for $15M; saves $1.7M annual rent

Greenwave Technology Solutions, Inc.

Purchase price $15M: $3.3M in Series A-1 Preferred (450k shares) + $11.7M note at 10% payable in 4 monthly installments from Dec 31, 2024.
Transaction closed Dec 2, 2024; sellers are entities affiliated with CEO Danny Meeks (DWM Properties, KPAJ, Oceana Salvage).
Company expects annual rent savings of ~$1.7M, enhancing cashflow and strategic flexibility.
Note payments can be extended 30 days if cash balance below $3M; all due within 12 months.
Acquired facilities include Norfolk, Virginia Beach, Portsmouth with grandfathered licenses; company operates 13 recycling centers.

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