TMCnet News
Nuvve Holding Corp. Announces Pricing of $9.6 Million Underwritten Public OfferingSAN 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 [email protected]. Nuvve Investor Contact Nuvve Press Contact About Nuvve Holding Corp. Forward-Looking Statements
View original content to download multimedia:https://www.prnewswire.com/news-releases/nuvve-holding-corp-announces-pricing-of-9-6-million-underwritten-public-offering-302048989.html SOURCE Nuvve Corporation |