Nuvve Announces Private Placement of Senior Convertible Notes and Warrants
Nuvve Holding Corp. (NVVE) has completed a private placement of $3.75 million in senior convertible notes with a 10% original issue discount, resulting in gross proceeds of $3.375 million. The notes bear an 8% annual interest rate with an 18-month maturity and are convertible into 1,102,295 shares at $3.402 per share. The company also issued warrants to purchase an equal number of shares at $3.78 per share. The investors have the right to purchase up to an additional $12.5 million in notes and warrants. CEO Gregory Poilasne invested $250,000 in the placement. The proceeds will be used for working capital and general corporate purposes.
Nuvve Holding Corp. (NVVE) ha completato un'operazione di collocamento privato di 3,75 milioni di dollari in note convertibili senior con uno sconto sull'emissione del 10%, generando proventi lordi di 3,375 milioni di dollari. Le note hanno un tasso d'interesse annuale dell'8% con una scadenza di 18 mesi e sono convertibili in 1.102.295 azioni a 3,402 dollari per azione. L'azienda ha anche emesso warrant per acquistare un numero uguale di azioni a 3,78 dollari per azione. Gli investitori hanno il diritto di acquistare fino a ulteriori 12,5 milioni di dollari in note e warrant. Il CEO Gregory Poilasne ha investito 250.000 dollari nel collocamento. I proventi saranno utilizzati per il capitale circolante e per scopi aziendali generali.
Nuvve Holding Corp. (NVVE) ha completado una colocación privada de 3,75 millones de dólares en notas convertibles séniores con un descuento en la emisión del 10%, lo que resulta en ingresos brutos de 3,375 millones de dólares. Las notas tienen una tasa de interés anual del 8% con un vencimiento de 18 meses y son convertibles en 1,102,295 acciones a 3,402 dólares por acción. La empresa también emitió opciones de compra para adquirir el mismo número de acciones a 3,78 dólares por acción. Los inversores tienen el derecho de comprar hasta 12,5 millones de dólares adicionales en notas y opciones. El CEO Gregory Poilasne invirtió 250,000 dólares en la colocación. Los ingresos se utilizarán para capital de trabajo y fines corporativos generales.
Nuvve Holding Corp. (NVVE)는 375만 달러의 10% 발행 할인으로 고급 전환 사채를 사모하여 337.5만 달러를 모금했습니다. 이 사채는 연 8%의 이자율을 가지며 18개월 만기로 1,102,295주를 주당 3.402달러에 전환할 수 있습니다. 또한 회사는 주당 3.78달러에 같은 수의 주식을 매입할 수 있는 워런트를 발행했습니다. 투자자는 추가로 1250만 달러 상당의 사채 및 워런트를 매입할 권리가 있습니다. CEO 그레고리 포일라스는 25만 달러를 투자했습니다. 모금된 자금은 운영 자본과 일반적인 기업 목적에 사용될 것입니다.
Nuvve Holding Corp. (NVVE) a complété un placement privé de 3,75 millions de dollars en obligations convertibles senior avec une remise d'émission de 10%, ce qui a donné lieu à des produits bruts de 3,375 millions de dollars. Les obligations portent un taux d'intérêt annuel de 8% avec une échéance de 18 mois et peuvent être converties en 1 102 295 actions au prix de 3,402 dollars par action. L'entreprise a également émis des bons de souscription pour acheter le même nombre d'actions au prix de 3,78 dollars par action. Les investisseurs ont le droit d'acheter jusqu'à 12,5 millions de dollars supplémentaires en obligations et bons de souscription. Le PDG Gregory Poilasne a investi 250 000 dollars dans le placement. Les produits seront utilisés pour le fonds de roulement et des fins corporatives générales.
Nuvve Holding Corp. (NVVE) hat eine Privatplatzierung von 3,75 Millionen Dollar in senioren wandelbaren Anleihen mit einem ursprünglichen Ausgabeabschlag von 10 % abgeschlossen, was zu Bruttoeinnahmen von 3,375 Millionen Dollar führt. Die Anleihen haben einen jährlichen Zinssatz von 8 % und eine Laufzeit von 18 Monaten und können in 1.102.295 Aktien zu einem Preis von 3,402 Dollar pro Aktie umgewandelt werden. Das Unternehmen hat auch Optionen zum Kauf einer gleichen Anzahl von Aktien zu einem Preis von 3,78 Dollar pro Aktie ausgegeben. Die Anleger haben das Recht, bis zu zusätzlich 12,5 Millionen Dollar in Anleihen und Optionen zu investieren. CEO Gregory Poilasne investierte 250.000 Dollar in die Platzierung. Die Einnahmen werden für Betriebskapital und allgemeine Unternehmenszwecke verwendet.
- CEO participation in the private placement with $250,000 investment shows management confidence
- Secured immediate funding of $3.375 million for working capital
- Potential for additional $12.5 million in funding through investor rights
- 10% original issue discount reduces actual proceeds received
- 8% annual interest rate represents significant debt servicing cost
- Potential dilution from conversion of notes and exercise of warrants
- Monthly installment payments starting February 2025 could strain cash flow
Insights
This private placement represents a significant but potentially dilutive financing move for Nuvve. The
The additional
The structured financing arrangement includes several key protective measures and compliance requirements. The company must file a registration statement for the underlying shares and obtain shareholder approval for the issuance, indicating careful consideration of SEC and Nasdaq requirements. The unregistered nature of the offering under Securities Act Section 4(a)(2) limits participation to accredited investors, reducing regulatory burden while maintaining compliance.
The installment payment structure with cash/stock payment flexibility provides important optionality, though careful monitoring of conversion terms and adjustments will be important for maintaining compliance with securities laws and avoiding potential defaults.
Nuvve's Chief Executive Officer, Gregory Poilasne, participated as an Investor in the Private Placement for a total investment of
The Notes bear interest at a rate of
As part of the Private Placement, Nuvve also issued Warrants to purchase up to an aggregate of 1,102,295 shares of Nuvve's common stock at an exercise price equal to
The Company intends to use the net proceeds from this transaction for working capital and general corporate purposes.
Nuvve has agreed to file a registration statement registering for resale the shares of common stock issuable upon conversion of the Notes and upon exercise of the Warrants. Nuvve has also agreed to file a preliminary proxy statement and to hold a special meeting of its stockholders to seek approval of the issuance of the shares of common stock underlying the Notes and the Warrants, in accordance with the rules and regulations of Nasdaq.
Additional information regarding the Private Placement and the terms of the Notes and Warrants will be set forth in a Current Report on Form 8-K to be filed by the Company with the Securities and Exchange Commission ("SEC"). You may also obtain these documents for free when they are available by visiting the SEC's website at www.sec.gov.
The offer and sale of the foregoing securities did not involve a public offering and were not registered under the Securities Act of 1933, as amended (the "Securities Act"), or applicable state securities laws. The securities may not be offered or sold in
This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities in the described offering, nor shall there be any offer, solicitation or sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
About Nuvve Holding Corp.
Nuvve Holding Corp. (Nasdaq: NVVE) is leading the electrification of the planet, beginning with transportation, through its intelligent energy platform. Combining the world's most advanced vehicle-to-grid (V2G) technology and an ecosystem of electrification partners, Nuvve dynamically manages power among electric vehicle (EV) batteries and the grid to deliver new value to EV owners, accelerate the adoption of EVs, and support the world's transition to clean energy. By transforming EVs into mobile energy storage assets and networking battery capacity to support shifting energy needs, Nuvve is making the grid more resilient, enhancing sustainable transportation, and supporting energy equity in an electrified world. Since its founding in 2010, Nuvve has successfully deployed V2G on five continents and offers turnkey electrification solutions for fleets of all types. Nuvve is headquartered in
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements or forward-looking information within the meaning of the
Nuvve Investor Contact
investorrelations@nuvve.com
+1 (619) 483-3448
Nuvve Press Contacts
press@nuvve.com
+1 (619) 483-3448
View original content to download multimedia:https://www.prnewswire.com/news-releases/nuvve-announces-private-placement-of-senior-convertible-notes-and-warrants-302293474.html
SOURCE Nuvve Holding Corp.
FAQ
What is the total value of Nuvve's (NVVE) October 2024 convertible notes private placement?
What is the conversion price for Nuvve's (NVVE) October 2024 convertible notes?
How many shares can be issued through Nuvve's (NVVE) October 2024 warrants?