SAN
DIEGO, Jan. 31, 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 the pricing of an underwritten
public offering for gross proceeds of approximately $9.6 million prior to deducting underwriting
discounts and commissions and offering expenses.
The offering is comprised of (i) 4,800,000 shares of common
stock (or pre-funded warrants in lieu thereof), (ii)
4,800,000 Series A Warrants with an initial exercise price of
$2.00 per share and a term of five
years following the issuance date, (iii) 4,800,000 Series B
Warrants with an exercise price of $2.00 per share and a term of nine months
following the issuance date and (iv) 4,800,000 Series C Warrants
with an exercise price of $2.00 per
share and a term of five years following the issuance date, subject
to early expiration as described below. The combined price
per share of common stock, Series A Warrant, Series B Warrant and
Series C Warrant is $2.00. The Series
C warrants may only be exercised to the extent and in proportion to
a holder of the Series C warrants exercising its Series B warrants,
and are subject to an early expiration of nine months, in
proportion and only to the extent any Series C warrants expire
unexercised. The closing of the offering is expected to take place
on or about February 2, 2024, subject
to the satisfaction or waiver of customary closing conditions.
Craig-Hallum is acting as sole managing underwriter in
connection with this offering.
The securities were offered pursuant to a registration statement
on Form S-1 (File No. 333-276415), which was declared effective by
the United States Securities and Exchange Commission ("SEC") on
January 31, 2024.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy, nor will there be any sales of
these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such jurisdiction. The
offering is being made solely by means of a prospectus. A
preliminary prospectus relating to the proposed offering was filed
with the SEC on January 26, 2024 and
is available on the SEC's website located at
http://www.sec.gov or may be obtained, from Craig-Hallum
Capital Group LLC, Attention: Equity Capital Markets, 222 South 9th
Street, Suite 350, Minneapolis,
Minnesota 55402, by telephone at (612) 334-6300, or by email
at prospectus@chlm.com.
Nuvve Investor
Contact
investorrelations@nuvve.com
+1 (619) 483-3448
Nuvve Press Contact
(W)right On Communications,
Larry Smalheiser
lsmalheiser@wrightoncomm.com
+1 (925) 413-3137
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.
Forward-Looking Statements
Statements contained in
this press release regarding matters that are not historical facts
are "forward-looking statements", including with respect to the
public offering. No assurance can be given that the public offering
discussed above will be completed. Because such statements are
subject to risks and uncertainties, actual results may differ
materially from those expressed or implied by such forward-looking
statements. Any forward-looking statements in this statement are
based on management's current expectations of future events and are
subject to a number of risks and uncertainties that could cause
actual results to differ materially and adversely from those set
forth in or implied by such forward-looking statements. Risks that
contribute to the uncertain nature of the forward-looking
statements include, but are not limited to, those risks and
uncertainties related to market and other conditions and
satisfaction of customary closing conditions related to the public
offering as well as those set forth in the Company's latest Annual
Report on Form 10-K, quarterly report on Form 10-Q, registration
statement on Form S-1 filed with the SEC and the preliminary
prospectus included therein, and other filings made by the Company
from time to time with the SEC. Copies of the registration
statement can be accessed by visiting the SEC website
at www.sec.gov. All forward-looking statements
contained in this press release speak only as of the date on which
they were made. The Company undertakes no obligation to update such
statements to reflect events that occur or circumstances that exist
after the date on which they were made.
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SOURCE Nuvve Corporation