secwatch.observer — SEC 8-K summary
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Issuer:     Greenwave Technology Solutions, Inc. (GWAV)
CIK:        0001589149
Form:       8-K
Filed at:   2024-12-02T23:59:59+00:00
Accession:  0001493152-24-048321
Event type: other_material
Sentiment:  positive
Materiality: 0.80
Item codes: 1.01, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1589149/000149315224048321/0001493152-24-048321-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1589149/000149315224048321/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-048321

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