Financing ·
CEO Fraser Atkinson's stake rises to 50.7% after converting preferred shares into common stock
GPGREENPOWER MOTOR Co Inc.
GreenPower Motor Company Inc. issued an aggregate of 1,336,436 common shares following the conversion of 1,752 Series B convertible preferred shares held by entities controlled by CEO and Chairman Fraser Atkinson. The conversions occurred on August 6, 2026 (324 shares to Koko Financial Services Ltd.) and August 18, 2026 (610 shares to NumberCo and 818 shares to FWP Holdings). This transaction increased Atkinson's direct and indirect ownership from 17.5% to 28.6% of the 9,884,038 outstanding shares on a non-diluted basis, or from 49.1% to 50.7% on a partially diluted basis. The filing discloses that Atkinson also holds options, warrants, and convertible debentures totaling US$1,982,999 in principal amount. GreenPower Motor Company Inc. designs, builds, and distributes all-electric medium and heavy-duty vehicles.