GreenPower Secures Second Tranche of Term Loan for Operational Expansion

An announcement from GreenPower Motor ( (TSE:GPV) ) is now available.

GreenPower Motor Company Inc. announced the second tranche of a secured term loan offering, totaling $500,000, to be closed with companies associated with its CEO and a Director. The funds from the loan will be used for production costs, supplier payments, payroll, and working capital. As part of the loan agreement, the company will issue non-transferable share purchase warrants and shares to the lenders, which are considered related party transactions but are exempt from certain regulatory requirements. This financial move is expected to support GreenPower’s operational needs and enhance its market positioning in the zero-emission 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 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 focuses on creating purpose-built electric vehicles with a clean-sheet design, integrating global suppliers for key components, and ensuring ease of maintenance and accessibility for warranty requirements. 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: 12,152

Technical Sentiment Signal: Strong Sell

Current Market Cap: C$17.99M

For an in-depth examination of GPV stock, go to TipRanks’ Stock Analysis page.