Electric bus manufacturer faces litigation, moves operations west

GreenPower Motor Company (NASDAQ: GP) will consolidate its shares on October 19, 2026, with 1 new share for every 5 outstanding shares. The total shares will reduce from 10,503,546 to 2,100,710. The ticker symbol 'GP' remains unchanged. Shareholders will receive instructions from Computershare to exchange certificates.

GreenPower Motor Company (NASDAQ: GP) said it completed the fourth tranche of a preferred share financing, issuing 1,500 Series A Convertible Preferred Shares in a private placement for gross proceeds of US$1.425 million. Shares convert into common stock at a rate tied to stated value plus 125% of the prior day’s NASDAQ closing price. A 5% placement fee applies.

GreenPower Motor Company (NASDAQ: GP) said it completed the third tranche of a preferred-share financing on June 30, 2026, issuing 1,500 Series A Convertible Preferred Shares for gross proceeds of $1.425M. The company and investor amended the agreement to increase the stated value issuable by $2M. Conversion terms reference stated value plus amounts and 125% of prior-day NASDAQ close.

The U.S. Army allocated $2.2 billion to build nuclear microreactors for military installations, selecting BWX Technologies (NYSE: BWXT) as a vendor. BWXT, with experience in nuclear reactors for the U.S. Navy, could benefit from this contract. The stock has gained 136% over five years but declined 40% in the past six months.

Netflix appointed Peter Rice as chief content officer, replacing Bela Bajaria. Despite strong Q3 earnings, lower Q4 and full-year guidance caused shares to drop. Co-CEO Ted Sarandos praised Rice's blend of creative and business skills, citing his experience in TV, film, and streaming. Sarandos also emphasized the need for better U.S. execution but no strategic shift.

Inovio Pharmaceutical (INO) secured an $80.4M judgment in a lawsuit against VGXI and GeneOne Life Sciences, alleging breach of a supply agreement and technology transfer obligations.