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GreenPower Motor ( (TSE:GPV) ) has provided an update.
GreenPower Motor Company Inc. announced a term loan offering of up to $2 million, with an initial tranche of $500,000 anticipated to close from companies associated with the CEO and a Director. The loan, which bears a 12% annual interest rate over a two-year term, will be secured by a general security agreement on the company’s assets. The proceeds are intended for production costs, supplier payments, payroll, and working capital. The issuance of loan bonus warrants as an inducement for the loan remains subject to exchange acceptance, and the transaction involves related parties but is exempt from certain regulatory requirements due to its valuation.
The most recent analyst rating on (TSE:GPV) stock is a Buy with a C$3.00 price target. To see the full list of analyst forecasts on GreenPower Motor stock, see the TSE:GPV Stock Forecast page.
Spark’s Take on TSE:GPV Stock
According to Spark, TipRanks’ AI Analyst, TSE:GPV is a Neutral.
GreenPower Motor’s overall stock score reflects significant financial and technical challenges. Despite positive revenue growth and strategic initiatives highlighted in the latest earnings call, ongoing financial struggles, bearish market momentum, and unattractive valuation weigh heavily on the stock. The company must address these core issues to improve its market position and stock performance.
To see Spark’s full report on TSE:GPV stock, click here.
More about GreenPower Motor
GreenPower Motor Company Inc. is a leading manufacturer and distributor of all-electric, zero-emission medium and heavy-duty vehicles, including transit buses, school buses, shuttles, cargo vans, and cab and chassis. The company uses a clean-sheet design to produce battery-powered vehicles with zero emissions, integrating global suppliers for key components. Founded in Vancouver, Canada, GreenPower operates primarily in southern California and has been listed on the Toronto exchange since 2015 and on NASDAQ since 2020.
Average Trading Volume: 17,882
Technical Sentiment Signal: Strong Sell
Current Market Cap: C$18.87M
See more insights into GPV stock on TipRanks’ Stock Analysis page.