Greenwave Technology Shores Up Balance Sheet With Debt-for-Equity Swap, Expects To Process Record Volumes Of Steel And Copper With 2024 Revenues Exceeding $40 Million
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By Meg Flippin, Benzinga
Greenwave Technology Solutions Inc. (NASDAQ: GWAV), the operator of 13 metal recycling facilities in Virginia, North Carolina and Ohio, is positioning itself for more growth by cleaning up its balance sheet. This includes a recent debt-for-equity exchange, as the Chairman and CEO of the company, Danny Meeks, exchanged all outstanding notes he held into equity demonstrating his confidence in the companys prospects and commitment to its shareholders.
As a follow on to this news, the company reported today that it is expecting to generate revenues exceeding $40 million during the year ended December 31, 2024. Growth is being driven by its Cleveland, OH, and Virginia Beach, VA, locations. The company expects its second American Pulverizer 60×85 shred...