11:49 AM EDT, 10/29/2024 (MT Newswires) -- GreenPower Motor ( GP ) (GPV.V, GP), an electric truck and bus manufacturer, late on Monday said it will raise US$3 million in a public offering of three-million shares at US$1.00 each.

Underwriters were granted a 45-day option to buy up to an additional 450,000 shares at the public offering price to cover over-allotments. The offering is scheduled to close on Oct. 30, subject to satisfaction of customary closing conditions.

Proceeds will be used for the production of electric vehicles, working capital and general corporate purposes.

GreenPower shares were last seen down $0.32 to $1.36 on the TSX Venture Exchange.

Price: 1.36, Change: -0.32, Percent Change: -19.05