GP - Why GreenPower Motor Shares Are Falling | Benzinga
GreenPower Motor Company Inc (NASDAQ:GP) shares are trading lower by 22.5% to $1.41 during Tuesday's session after the company priced its underwritten public offering, consisting of 1.5 million common shares and warrants to purchase an equal number of shares, at a combined price of $1.55 per share.
This amounts to approximately $2.3 million in gross proceeds before deductions. The warrants, with an exercise price of approximately $1.82 per share, will expire three years from the date of issuance and are immediately exercisable.
Additionally, the underwriter has a 45-day option to purchase up to 5% more of the offered shares and/or warrants. Maxim Group LLC is the sole book-running manager ...