Greenwave Technology Solutions Issues Shares to Settle CEO-Related Debt

What Happened Greenwave Technology Solutions, Inc. (GWAV) announced on an 8-K filed August 27, 2026 that it entered into an Exchange Agreement dated August 24, 2026 with DWM Properties LLC, an entity controlled by CEO Danny Meeks. Under the agreement, GWAV issued 2,152,853 shares of common stock to DWM in exchange for satisfaction of an outstanding promissory note with a $5,391,859 principal balance and other related-party amounts of $2,608,141 (totaling $8,000,000).

Key Details

• The Exchange Agreement was executed August 24, 2026 and disclosed in the 8-K filed August 27, 2026; the agreement is attached as Exhibit 10.1.
• GWAV issued 2,152,853 common shares (par value $0.001) to DWM Properties LLC.
• The shares were issued to extinguish $5,391,859 in promissory note principal plus $2,608,141 of other amounts owed to Mr. Meeks and affiliates (total $8,000,000).
• The issuance was made in reliance on exemptions from registration (Section 4(a)(2), Regulation D, and/or Section 3(a)(9)); share certificates will bear transfer-restriction legends.

Why It Matters This is a material related-party transaction: GWAV reduced its related-party indebtedness by issuing equity to the CEO’s affiliated entity rather than paying cash. For investors, the deal affects the company’s capitalization (new shares outstanding) and eliminates $8.0M of liabilities owed to the CEO and affiliates. Because the shares were issued in a non-registered transaction, shareholders should review future filings for any disclosure on share dilution, any change in control implications, and whether the company records any expense or gain related to the exchange.