Nuvve Holding Corp. Announces Pricing of $1,000,000 Underwritten Public Offering

Rhea-AI Summary

Nuvve Holding Corp. announces pricing of underwritten public offering

Positive

• Nuvve Holding Corp. expects to raise approximately $1,000,000 in gross proceeds from the offering
• The offering consists of 7,142,857 shares of common stock at a price of $0.14 per share
• The net proceeds will be used for working capital and general corporate purposes

Negative

• None.

SAN DIEGO, Oct. 18, 2023 /PRNewswire/ -- Nuvve Holding Corp. (Nasdaq: NVVE) ("Nuvve"), a global technology leader accelerating the electrification of transportation through its proprietary vehicle-to-grid (V2G) platform, announced today the pricing of an underwritten public offering with gross proceeds to the Company expected to be approximately $1,000,000, before deducting underwriting discounts and other estimated expenses payable by the Company. The offering consists of 7,142,857 shares of common stock at a price to the public of $0.14 per share. The Company intends to use the net proceeds from this offering for working capital and other general corporate purposes.

In addition, the Company has granted Aegis Capital Corp. a 45-day option to purchase additional shares of common stock and/or pre-funded warrants at the public offering price, less underwriting discounts and commissions solely to cover over-allotments, if any.

The offering is expected to close on October 20, 2023, subject to the satisfaction of customary closing conditions.

Aegis Capital Corp. is acting as the sole book-running manager for the offering.

This offering is being made pursuant to an effective shelf registration statement on Form S-3 (No. 333-264462) declared effective by the U.S. Securities and Exchange Commission (the "SEC") on May 5, 2022. A preliminary prospectus supplement and accompanying shelf prospectus describing the terms of the proposed offering has been  filed with the SEC and is  available on the SEC's website located at http://www.sec.gov. Electronic copies of the preliminary prospectus supplement and the accompanying shelf prospectus may be obtained  by contacting Aegis Capital Corp., Attention: Syndicate Department, 1345 Avenue of the Americas, 27th floor, New York, NY 10105, by email at syndicate@aegiscap.com, or by telephone at (212) 813-1010. Before investing in this offering, interested parties should read in their entirety the prospectus supplement and the accompanying prospectus and the other documents that the Company has filed with the SEC and that are incorporated by reference in such prospectus supplement and the accompanying prospectus, which provide more information about the Company and such offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Nuvve Holding Corp.

Nuvve (Nasdaq: NVVE) is a global technology leader accelerating the electrification of transportation through its proprietary vehicle-to-grid (V2G) platform. Nuvve's mission is to lower the cost of electric vehicle ownership while supporting the integration of renewable energy sources, including solar and wind. For more information please visit www.nuvve.com.

Nuvve Press Contact
(W)right On Communications, Larry Smalheiser
lsmalheiser@wrightoncomm.com, +1 925-413-3137

Nuvve Investor Contact
ICR Inc.
nuvve@icrinc.com, +1 646-200-8872

Forward-Looking Statements:

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act and other securities laws. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and similar expressions or variations of such words are intended to identify forward-looking statements. For example, the Company is using forward-looking statements when it discusses use of proceeds from the offering, and the timing and terms of the offering. Forward-looking statements are not historical facts, and are based upon management's current expectations, beliefs and projections, many of which, by their nature, are inherently uncertain. Such expectations, beliefs and projections are expressed in good faith. However, there can be no assurance that management's expectations, beliefs or projections will be achieved, and actual results may differ materially from what is expressed in, or indicated by, the forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the forward-looking statements. Forward-looking statements speak only as of the date the statements are made. The Company assumes no obligation to update forward-looking statements to reflect actual results, subsequent events or circumstances, changes in assumptions or changes in other factors affecting forward-looking information except to the extent required by applicable securities laws. If the Company does update one or more forward-looking statements, no inference should be drawn that the Company will make additional updates with respect thereto or with respect to other forward-looking statements.

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SOURCE Nuvve Corporation

FAQ

What is the purpose of Nuvve Holding Corp.'s public offering?

The net proceeds from the offering will be used for working capital and other general corporate purposes.

How many shares are included in the offering?

The offering consists of 7,142,857 shares of common stock.

What is the price per share in the offering?

The price to the public is $0.14 per share.

Who is the sole book-running manager for the offering?

Aegis Capital Corp. is acting as the sole book-running manager for the offering.

When is the expected closing date of the offering?

The offering is expected to close on October 20, 2023, subject to customary closing conditions.

Where can interested parties obtain more information about the offering?

Interested parties can obtain more information by contacting Aegis Capital Corp. or accessing the SEC's website.