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GreenPower Secures $300,000 in Third Tranche of Term Loan Offering

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GreenPower Secures $300,000 in Third Tranche of Term Loan Offering

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GreenPower Motor ( (TSE:GPV) ) has issued an update.

GreenPower Motor Company has successfully closed the third tranche of its term loan offering, securing a total of $300,000. The funds will be used for production costs, supplier payments, payroll, and working capital. The loans, secured by a general security agreement, bear an interest rate of 12% per annum and have a two-year term. As part of the loan agreement, GreenPower issued share purchase warrants and shares to related parties, exempt from certain regulatory requirements due to their market value. This financial maneuver is expected to bolster GreenPower’s operational capacity and enhance its market positioning in the electric vehicle industry.

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 prominent manufacturer and distributor of all-electric, zero-emission medium and heavy-duty vehicles. The company focuses on the cargo and delivery market, shuttle and transit space, and school bus sector. GreenPower employs a clean-sheet design to produce purpose-built battery-powered vehicles, integrating global suppliers for key components. Founded in Vancouver, Canada, with operational facilities in southern California, GreenPower is listed on the Toronto exchange and NASDAQ.

Average Trading Volume: 10,385

Technical Sentiment Signal: Strong Sell

Current Market Cap: C$17.1M

Find detailed analytics on GPV stock on TipRanks’ Stock Analysis page.

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