Greenwave Technology Solutions Announces 1-for-110 Reverse Stock Split to Regain Nasdaq Compliance

Greenwave Technology Solutions Inc. (NASDAQ: GWAV) will implement a 1-for-110 reverse stock split of its common stock effective August 22, 2025, as the metal recycling facility operator seeks to regain compliance with Nasdaq's minimum bid price requirement. The reverse split will reduce the company's outstanding common shares from 62,794,283 to approximately 570,858, with proportional adjustments applied to outstanding options and warrants. This corporate action is significant because maintaining Nasdaq listing is essential for the company's credibility and access to capital markets, which directly impacts its expansion plans and operational capabilities.

The reverse stock split will take effect at 5 p.m. EST on Friday, August 22, 2025, with trading on a reverse split-adjusted basis beginning when the market opens on Monday, August 25, 2025. The stock will continue trading on the Nasdaq Capital Market under the symbol GWAV but with a new CUSIP number 57630J 502. For investors, this move matters because it addresses the immediate threat of delisting, which could severely limit liquidity and investor interest in the stock. The company's ability to maintain its Nasdaq listing is particularly important given its aggressive expansion strategy through acquisitions of independent scrap yards.

Greenwave Technology Solutions, through its wholly owned subsidiary Empire Services, Inc., operates 13 metal recycling facilities in Virginia, North Carolina, and Ohio. The company's operations focus on collecting, classifying, and processing raw scrap metal while implementing unique technologies to increase processing volumes and operating efficiencies. The importance of this announcement extends beyond the financial mechanics, as the company plays a role in the environmentally critical steel recycling industry, which provides key environmental benefits including reduced energy use, lower CO2 emissions, and conservation of natural resources compared to virgin metal production.

For more information about the company's operations and environmental impact, investors can visit https://www.GWAV.com. The reverse stock split represents a strategic move to preserve the company's public market status while it continues to execute its growth strategy in the metal recycling sector, serving large corporations, industrial manufacturers, retail customers, and government organizations across its operating regions.