Sec Form 13G Filing - Arena Investors LP filing for Greenwave Technology Solutions Inc. (GWAV) - 2022-08-19

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No. ____)* 

 

Greenwave Technology Solutions, Inc.

(Name of Issuer)

 

Common Stock, par value $0.001 per share

(Title of Class of Securities)

 

57630J106

(CUSIP Number)

 

November 29, 2021

(Date of Event Which Requires Filing of this Statement)

 

 

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

 

¨

Rule 13d-1(b)

 

x

Rule 13d-1(c)

 

¨

Rule 13d-1(d)

 

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

 

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 

CUSIP No. 57630J106

 

 

1.

Names of Reporting Persons

 

Arena Investors, LP

 

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

 

(a)

¨

(b)

x

 

3.

SEC Use Only

 

 

4.

Citizenship or Place of Organization

 

Delaware

 

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:	5.  SOLE VOTING POWER	972,708
	6.  SHARED VOTING POWER	0
	7.  SOLE DISPOSITIVE POWER	972,708
	8.  SHARED DISPOSITIVE POWER	0

   

9.

Aggregate Amount Beneficially Owned by Each Reporting Person

 

972,708

 

10.

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)  ¨

 

 

11.

Percent of Class Represented by Amount in Row (9)

 

9.5%

 

12.

Type of Reporting Person (See Instructions)

 

PN

 

*

Information above is given as of the end of business on August 18, 2022, the filing date of this Schedule 13G.

  

 

CUSIP No. 57630J106

  

1.

Names of Reporting Persons

 

Arena Investors GP, LLC

 

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

 

(a)

¨

(b)

x

 

3.

SEC Use Only

 

 

4.

Citizenship or Place of Organization

 

Delaware

 

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:	5.  SOLE VOTING POWER	972,708
	6.  SHARED VOTING POWER	0
	7.  SOLE DISPOSITIVE POWER	972,708
	8.  SHARED DISPOSITIVE POWER	0

 

9.

Aggregate Amount Beneficially Owned by Each Reporting Person

 

972,708

 

10.

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)  ¨

 

 

11.

Percent of Class Represented by Amount in Row (9)

 

9.5%

 

12.

Type of Reporting Person (See Instructions)

 

OO

  

*

Information above is given as of the end of business on August 18, 2022, the filing date of this Schedule 13G.

 

 

CUSIP No. 57630J106

  

1.

Names of Reporting Persons

 

Arena Special Opportunities Fund, LP

 

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

 

(a)

¨

(b)

x

 

3.

SEC Use Only

 

 

4.

Citizenship or Place of Organization

 

Delaware

 

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:	5.  SOLE VOTING POWER	103,228
	6.  SHARED VOTING POWER	0
	7.  SOLE DISPOSITIVE POWER	103,228
	8.  SHARED DISPOSITIVE POWER	0

 

9.

Aggregate Amount Beneficially Owned by Each Reporting Person

 

103,228

 

10.

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)  ¨

 

 

11.

Percent of Class Represented by Amount in Row (9)

 

1.0%

 

12.

Type of Reporting Person (See Instructions)

 

PN

 

*

Information above is given as of the end of business on August 18, 2022, the filing date of this Schedule 13G.

 

 

CUSIP No. 57630J106

  

1.

Names of Reporting Persons

 

Arena Special Opportunities Fund (Onshore) GP, LLC

 

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

 

(a)

¨

(b)

x

 

3.

SEC Use Only

 

 

4.

Citizenship or Place of Organization

 

Delaware

 

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:	5.  SOLE VOTING POWER	103,228
	6.  SHARED VOTING POWER	0
	7.  SOLE DISPOSITIVE POWER	103,228
	8.  SHARED DISPOSITIVE POWER	0

 

9.

Aggregate Amount Beneficially Owned by Each Reporting Person

 

103,228

 

10.

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) ¨

 

 

11.

Percent of Class Represented by Amount in Row (9)

 

1.0%

 

12.

Type of Reporting Person (See Instructions)

 

OO 

 

*

Information above is given as of the end of business on August 18, 2022, the filing date of this Schedule 13G.

 

 

CUSIP No. 57630J106

 

 

1.

Names of Reporting Persons

 

Arena Special Opportunities Partners I, LP

 

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

 

(a)

¨

(b)

x

 

3.

SEC Use Only

 

4.

Citizenship or Place of Organization

 

Delaware

 

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:	5.  SOLE VOTING POWER	225,498
	6.  SHARED VOTING POWER	0
	7.  SOLE DISPOSITIVE POWER	225,498
	8.  SHARED DISPOSITIVE POWER	0

 

9.

Aggregate Amount Beneficially Owned by Each Reporting Person

 

225,498

 

10.

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) ¨

 

 

11.

Percent of Class Represented by Amount in Row (9)

 

2.2%

 

12.

Type of Reporting Person (See Instructions)

 

PN

  

*

Information above is given as of the end of business on August 18, 2022, the filing date of this Schedule 13G.

  

 

CUSIP No. 57630J106

 

1.

Names of Reporting Persons

 

Arena Special Opportunities Partners (Onshore) GP, LLC

 

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

 

(a)

¨

(b)

x

 

3.

SEC Use Only

 

4.

Citizenship or Place of Organization

 

Delaware

 

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:	5.  SOLE VOTING POWER	225,498
	6.  SHARED VOTING POWER	0
	7.  SOLE DISPOSITIVE POWER	225,498
	8.  SHARED DISPOSITIVE POWER	0

 

9.

Aggregate Amount Beneficially Owned by Each Reporting Person

 

225,498

 

10.

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) ¨

 

 

11.

Percent of Class Represented by Amount in Row (9)

 

2.2%

 

12.

Type of Reporting Person (See Instructions)

 

PN

 

*

Information above is given as of the end of business on August 18, 2022, the filing date of this Schedule 13G.

 

 

CUSIP No. 57630J106

  

1.

Names of Reporting Persons

 

Arena Special Opportunities Partners II, LP

 

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

 

(a)

¨

(b)

x

 

3.

SEC Use Only

 

4.

Citizenship or Place of Organization

 

Delaware

 

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:	5.  SOLE VOTING POWER	643,982
	6.  SHARED VOTING POWER	0
	7.  SOLE DISPOSITIVE POWER	643,982
	8.  SHARED DISPOSITIVE POWER	0

  

9.

Aggregate Amount Beneficially Owned by Each Reporting Person

 

643,982

 

10.

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)  ¨

 

 

11.

Percent of Class Represented by Amount in Row (9)

 

6.3%

 

12.

Type of Reporting Person (See Instructions)

 

PN

 

*

Information above is given as of the end of business on August 18, 2022, the filing date of this Schedule 13G.

 

 

CUSIP No. 57630J106

 

1.

Names of Reporting Persons

 

Arena Special Opportunities Partners (Onshore) GP II, LLC

 

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

 

(a)

¨

(b)

x

 

3.

SEC Use Only

 

 

4.

Citizenship or Place of Organization

 

Delaware

 

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:	5.  SOLE VOTING POWER	643,982
	6.  SHARED VOTING POWER	0
	7.  SOLE DISPOSITIVE POWER	643,982
	8.  SHARED DISPOSITIVE POWER	0

 

9.

Aggregate Amount Beneficially Owned by Each Reporting Person

 

643,982

 

10.

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)  ¨

 

 

11.

Percent of Class Represented by Amount in Row (9)

 

6.3%

 

12.

Type of Reporting Person (See Instructions)

 

OO

 

*

Information above is given as of the end of business on August 18, 2022, the filing date of this Schedule 13G.

 

 

Item 1.

 

(a)

The name of the issuer is Greenwave Technology Solutions, Inc. (the “Issuer”).

 

(b)

The principal executive offices of the Issuer are located at 277 Suburban Drive, Suffolk, VA 23434.

 

Item 2.

 

(a)       This Schedule 13G is filed by the following (the “Reporting Persons”):

 

(i)

Arena Investors, LP (the “Investment Manager”), who serves as investment manager to the Arena Funds (as defined below);

 

(ii)

Arena Investors GP, LLC, who serves as the general partner of the Investment Manager (the “IM General Partner”);

 

(iii)

Arena Special Opportunities Partners I, LP (“Partners Fund I”);

 

(iv)

Arena Special Opportunities Partners (Onshore) GP, LLC, who serves as the general partner of Partners Fund I (the “Partners Fund I General Partner”);

 

(v)

Arena Special Opportunities Partners II, LP (“Partners Fund II”);

 

(vi)

Arena Special Opportunities Partners (Onshore) GP II, LLC, who serves as the general partner of Partners Fund II (the “Partners Fund II General Partner”);

 

(vii)

Arena Special Opportunities Fund, LP (the “Opportunities Fund”; and collectively with Partners Fund I and Partners Fund II, the “Arena Funds”); and

 

(viii)

Arena Special Opportunities Fund (Onshore) GP, LLC, who serves as the general partner of the Opportunities Fund (the “Opportunities Fund General Partner”).

 

The Arena Funds are private investment vehicles. The Arena Funds directly beneficially own the Common Stock (as defined below) reported in this Schedule 13G.

 

The Investment Manager and the IM General Partner may be deemed to beneficially own the Common Stock owned by the Arena Funds.

 

The Partners Fund I General Partner may be deemed to beneficially own the Common Stock owned by Partners Fund I.

 

The Partners Fund II General Partner may be deemed to beneficially own the Common Stock owned by Partners Fund II.

 

The Opportunities Fund General Partner may be deemed to beneficially own the Common Stock owned by the Opportunities Fund.

 

Each Reporting Person disclaims beneficial ownership with respect to any Common Stock other than the Common Stock directly beneficially owned by such Reporting Person.

 

 

(b)

The principal business office of the Reporting Persons is 405 Lexington Avenue, 59th Floor, New York, New York 10174.

 

(c)

For citizenship information see Item 4 of the cover page of each Reporting Person.

 

(d)

This Statement relates to the Common Stock, $0.001 par value per share, of the Issuer (the “Common Stock”).

 

(e)

The CUSIP Number of the Common Stock is 57630J106.

 

Item 3. If this statement is filed pursuant to 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:

 

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(a)	o	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).
(b)	o	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).
(c)	o	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).
(d)	o	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).
(e)	o	An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E);
(f)	o	An employee benefit plan or endowment fund in accordance with 240.13d-1(b)(1)(ii)(F);
(g)	o	A parent holding company or control person in accordance with 240.13d-1(b)(1)(ii)(G);
(h)	o	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	o	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	o	A non-U.S. institution in accordance with §240.13d-1(b)(1)(ii)(J);
(k)	o	Group, in accordance with §240.13d-1(b)(1)(ii)(K).

 

If filing as a non-U.S. institution in accordance with §240.13d-1(b)(1)(ii)(J), please specify the type of institution:____________

 

Item 4. Ownership.

 

See Items 5-9 and 11 on the cover page for each Reporting Person, and Item 2, which information is given as of the close of business on August 18, 2022, the filing date of this Schedule 13G. The ownership percentages of the Reporting Persons set forth on the cover pages hereto are based on 10,237,317 shares of Common Stock outstanding as of August 8, 2022, as reported by the Issuer in its Form 10-Q filed with the Securities and Exchange Commission on August 10, 2022. The Common Stock reported on the cover pages hereto was acquired by the Reporting Persons on July 22, 2022 as a result of the automatic conversion of certain convertible notes, and was received into the Reporting Persons’ brokerage accounts on August 9, 2022.

 

 

On the Event Date of November 29, 2021, the Reporting Persons collectively beneficially owned 106,382,978.80 shares of Common Stock, representing 9.7% of the outstanding shares of Common Stock. Such shares of Common Stock were issuable upon the conversion of certain convertible notes then held by the Reporting Persons. The foregoing percentage ownership of the Reporting Persons is based on 994,871,337 shares of Common Stock outstanding as of November 22, 2021, as reported by the Issuer in its Form 10-Q filed with the Securities and Exchange Commission on November 22, 2021.

 

Item 5. Ownership of Five Percent or Less of a Class.

 

If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following: ¨

 

Item 6. Ownership of More than Five Percent on Behalf of Another Person.

 

Not applicable.

 

Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company.

 

Not applicable.

 

Item 8. Identification and Classification of Members of the Group.

 

Not applicable.

 

Item 9. Notice of Dissolution of Group.

 

Not applicable.

 

Item 10. Certification.

 

(a)

Not applicable.

 

(b)

Not applicable.

 

(c)

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §240.14a-11.

 

 

 

SIGNATURE

 

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

Dated: August 18, 2022

 

Arena Investors, LP

Arena Investors GP, LLC

Arena Special Opportunities Fund, LP

Arena Special Opportunities Fund (Onshore) GP, LLC

Arena Special Opportunities Partners I, LP

Arena Special Opportunities Partners (Onshore) GP, LLC

Arena Special Opportunities Partners II, LP

Arena Special Opportunities Partners (Onshore) GP II, LLC

 

 

By:

/s/ Lawrence Cutler

Name: Lawrence Cutler

Title: Authorized Signatory

 

 

 

 

EXHIBIT INDEX

 

 

Exhibit No.	Document
1	Joint Filing Agreement