SAN
DIEGO, Oct. 20, 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
closing of an underwritten public offering 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 granted Aegis Capital Corp., the
underwriter ("Aegis"), a 45-day option to purchase up to an
additional 1,071,428 shares of common stock at the public offering
price per share, less the underwriting discounts and expenses, to
cover over-allotments. On October 20,
2023, Aegis partially exercised its over-allotment option
with respect to 797,243 shares of common stock.
Gross proceeds for the offering were approximately $1.1 million, before deducting underwriting
discounts and other offering expenses.
Aegis Capital Corp. acted as the sole book-running manager
for the Offering.
This offering was 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 final
prospectus supplement and accompanying shelf prospectus describing
the terms of the proposed offering have been filed with the SEC and
are available on the SEC's website located at http://www.sec.gov.
Electronic copies of the final 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 Holding Corp.