In a significant move that underscores its commitment to advancing the electrification of transportation, Nuvve Holding Corp. (Nasdaq: NVVE), a global technology leader specializing in vehicle-to-grid (V2G) solutions, has declared the pricing of an underwritten public offering. The gross proceeds from this endeavor are projected to reach approximately $1,000,000, though this estimate is before accounting for underwriting discounts and other expected expenses incurred by the company.
The offering comprises 7,142,857 shares of common stock, each priced at $0.14 per share when available to the public. Nuvve Holding intends to allocate the net proceeds arising from this offering for the purpose of bolstering its working capital and other general corporate needs.
At the time of this publication Nuvve Holding stock (NVVE) has witnessed a decline.
Nuvve Holding Corp
Current Price: $0.14
Change : -0.12
Change (%): (-46.60%)
Volume: 6.4M
Source: Tomorrow Events Market Data
Furthermore, Nuvve Holding has granted Aegis Capital Corp. an exclusive 45-day option to acquire additional shares of common stock and/or pre-funded warrants at the public offering price, reduced by underwriting discounts and commissions, for the sole purpose of covering any over-allotments, should they arise.
The anticipated closing date for this offering is scheduled for October 20, 2023, subject to the completion of customary closing conditions. Aegis Capital Corp. has taken on the role of the sole book-running manager for this offering.
It is worth noting that this offering has been conducted in accordance with an effective shelf registration statement on Form S-3 (No. 333-264462), which the U.S. Securities and Exchange Commission (SEC) declared effective on May 5, 2022. A preliminary prospectus supplement has been filed, along with an accompanying shelf prospectus, both of which outline the terms and details of the proposed offering. These documents can be accessed on the SEC’s official website, located at http://www.sec.gov.
For electronic copies of the preliminary prospectus supplement and the accompanying shelf prospectus, interested parties are encouraged to reach out to Aegis Capital Corp.’s Syndicate Department. They can be contacted at 1345 Avenue of the Americas, 27th floor, New York, NY 10105, via email at [email protected], or by telephone at (212) 813-1010. Anyone considering investing in this offering is advised to thoroughly read the prospectus supplement, the accompanying prospectus, and other related documents filed by the company with the SEC, which are incorporated by reference in these documents. This will provide a comprehensive understanding of Nuvve Holding Corp. and the particulars of this offering.
It is essential to note that this press release is not to be construed as an offer to sell or a solicitation to buy these securities, nor should there be any sale of these securities in any state or jurisdiction where such an offer, solicitation, or sale would be deemed unlawful without prior registration or qualification under the applicable securities laws of that state or jurisdiction.
The decision of Nuvve Holding to raise capital through this public offering signifies the company’s unwavering commitment to driving the electrification of transportation, a pivotal initiative in the transition to more sustainable and environmentally friendly mobility solutions. This financial injection will enable Nuvve to further its mission and make significant strides in the V2G sector. With the offering set to close in just a matter of days, the company’s vision for a cleaner and more energy-efficient transportation landscape is rapidly becoming a reality.
