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, at 5 p.m. EST. The company's stock will continue trading on the Nasdaq Capital Market under the symbol GWAV and begin trading on a reverse split-adjusted basis when the market opens on August 25, 2025, under new CUSIP number 57630J 502.

The reverse stock split is intended to increase the per-share trading price and help the company regain compliance with Nasdaq's minimum bid price requirement. Following the split, Greenwave's outstanding common shares will be reduced from 62,794,283 to approximately 570,858 shares. Proportional adjustments will be applied to outstanding options and warrants, and fractional shares will not be issued, with any fractional interest being rounded up to the nearest whole share.

Greenwave Technology Solutions operates through its wholly owned subsidiary Empire Services, Inc., managing 13 metal recycling facilities across Virginia, North Carolina, and Ohio. The company's facilities collect, classify, and process raw scrap metal, including both ferrous and nonferrous materials. The company implements several unique technologies to increase metal processing volumes and operating efficiencies, including a downstream recovery system and cloud-based ERP system.

The metal recycling industry plays a crucial role in environmental sustainability, as steel represents one of the world's most recycled products with the ability to be re-melted and re-cast numerous times. Recycling steel provides significant environmental benefits compared to virgin metals, including reduced energy consumption, lower CO2 emissions, decreased waste generation, and conservation of natural resources. Greenwave's customer base includes large corporations, industrial manufacturers, retail customers, and government organizations.

The company has announced plans to aggressively expand its operational footprint by acquiring independent, profitable scrap yards in the coming months. For additional information about the company's operations and strategic direction, investors and interested parties can visit https://www.GWAV.com. The latest news and updates relating to the company are available through its newsroom at https://ibn.fm/GWAV.

This corporate action represents a strategic move to maintain the company's Nasdaq listing while continuing its environmental mission through metal recycling operations. The reverse stock split affects shareholder equity structure while the company maintains its focus on expanding its recycling infrastructure and technological capabilities in the sustainable materials management sector.