NUVVE ANNOUNCES COMPLIANCE WITH THE NASDAQ MINIMUM BID PRICE RULE

Rhea-AI Summary

Nuvve Holding Corp. (NVVE) announces compliance with Nasdaq minimum bid price rule, with the closing bid price of the Company's Common Stock at $1.00 per share or greater for the last 10 consecutive business days, from January 22, 2023, through February 2, 2024.

Insights

Market Research Analyst

Regaining compliance with the Nasdaq minimum bid price requirement suggests a positive sentiment toward Nuvve Holding Corp. in the market. This compliance alleviates the immediate risk of delisting, which can have severe consequences such as reduced liquidity and investor confidence. Investors and potential shareholders often view the meeting of such regulatory standards as a sign of stability and a positive outlook for the company's financial health. It is important to note that a stock maintaining a minimum bid price is a basic requirement that does not necessarily reflect on the company's operational performance or long-term viability.

Financial Analyst

The news of compliance may lead to a short-term increase in investor confidence, potentially boosting stock liquidity and attracting investment. However, investors should evaluate the underlying financials and growth prospects of Nuvve Holding Corp., particularly in the competitive EV and green energy sector. The company's ability to maintain the minimum bid price over a longer period will be indicative of its market position and investor perception. Additionally, stakeholders should consider the broader market conditions and how they might affect companies like Nuvve that are in emerging technology markets.

Energy Sector Analyst

As a company operating in the green energy technology space, Nuvve's V2G technology is at the forefront of innovative solutions for energy storage and grid services. The technical and environmental implications of their work are significant, as they contribute to the optimization of energy usage and support the integration of renewable energy sources. The long-term success of Nuvve will depend on the adoption rate of EVs, advancements in V2G technology and regulatory incentives for renewable energy. The company's compliance with Nasdaq's listing rules could improve its position to capitalize on these industry trends.

SAN DIEGO, Feb. 8, 2024 /PRNewswire/ -- Nuvve Holding Corp. ("Nuvve" or the "Company") (Nasdaq: NVVE), a green energy technology company that provides a globally-available, commercial vehicle-to-grid (V2G) technology platform that enables electric vehicle (EV) batteries to store and resell unused energy back to the local electric grid and provides other grid services, today announced that it is back in compliance with the Nasdaq Stock Market, LLC ("Nasdaq") minimum bid price rule. 

On February 5, 2024, the Company received a letter from Nasdaq notifying the Company that it had regained compliance with Nasdaq Listing Rule 5550(a)(2), because for the last 10 consecutive business days, from January 22, 2023, through February 2, 2024, the closing bid price of the Company's Common Stock had been at $1.00 per share or greater. Accordingly, the Company has regained compliance with Nasdaq Listing Rule 5550(a)(2) and Nasdaq considers this matter closed.

About Nuvve Holding Corp.

Nuvve Holding Corp. (Nasdaq: NVVE) is a global leader in vehicle-to-grid (V2G) technology serving the mission-critical needs of commercial fleets. The company's intelligent, cloud-based software, Nuvve GIVe™, is a platform that transforms electric fleets into mobile storage resources allowing them to contribute, and not just consume, electricity. It enables a flexible suite of V2G, charge management and grid services that provide electric grid resilience while also generating recurring revenues to offset fleet operation costs. Committed to accelerating the planet's transition to a net-zero future, Nuvve is securing fleet electrification partners across the e-mobility and grid value chain and supports active deployments around the world with 18.3 megawatts currently under management. Nuvve is headquartered in San Diego, Calif., USA. To learn more about the value of V2G, futureproofing EV infrastructure and using EVs for grid resilience, visit nuvve.com..

Cautionary Statement Regarding Forward-Looking Statements 

This press release contains forward-looking statements or forward-looking information within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of forward-looking terms such as "may," "will," "expects," "believes," "aims," "anticipates," "plans," "looking forward to," "estimates," "projects," "assumes," "guides," "targets," "forecasts," "continue," "seeks" or the negatives of such terms or other variations on such terms or comparable terminology, although not all forward-looking statements contain such identifying words. Forward-looking statements include, but are not limited to, statements concerning the expected timing and implementation of the reverse stock split and the commencement of trading of Nuvve's post-split common stock and Nuvve's ability to maintain compliance with Nasdaq's continued listing requirements. Nuvve cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Nuvve. Such statements are based upon the current beliefs and expectations of management and are subject to significant risks and uncertainties that could cause actual outcomes and results to differ materially. Some of these risks and uncertainties can be found in Nuvve's most recent Annual Report on Form 10-K and subsequent periodic reports filed with the Securities and Exchange Commission (SEC). All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management's assumptions and estimates as of such date. Nuvve does not undertake any obligation to publicly update any forward-looking statements, whether as a result of the receipt of new information, the occurrence of future events or otherwise except as required by law.

Nuvve Investor Contact
investorrelations@nuvve.com
+1 (619) 483-3448

Nuvve Press Contacts
(W)right On Communications, Larry Smalheiser
lsmalheiser@wrightoncomm.com
925-413-3137

 

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SOURCE Nuvve Holding Corp.

FAQ

What is the recent announcement made by Nuvve Holding Corp. (NVVE)?

Nuvve Holding Corp. (NVVE) has announced that it is back in compliance with the Nasdaq Stock Market, LLC minimum bid price rule.

What is the ticker symbol for Nuvve Holding Corp.?

The ticker symbol for Nuvve Holding Corp. is NVVE.

What does the compliance with Nasdaq Listing Rule 5550(a)(2) mean for Nuvve Holding Corp. (NVVE)?

The compliance means that for the last 10 consecutive business days, from January 22, 2023, through February 2, 2024, the closing bid price of the Company's Common Stock had been at $1.00 per share or greater, and Nasdaq considers this matter closed.