Nuvve Holding Corp. Announces $4.5 Million Private Placement of Preferred Stock and Warrants

Reuters11-14
<a href="https://laohu8.com/S/NVVE">Nuvve Holding Corp.</a> Announces $4.5 Million Private Placement of Preferred Stock and Warrants

Nuvve Holding Corp. has entered into a Securities Purchase Agreement for a private placement involving the sale of 5,000 shares of newly designated Series A Convertible Preferred Stock and accompanying warrants to purchase common stock. The aggregate stated value of the Preferred Stock is $5 million, with the total purchase price set at $4.5 million. The transaction also grants purchasers the right to buy additional shares of Preferred Stock worth up to $25 million, along with additional warrants. The closing of the offering is contingent upon stockholder approval for the issuance of common stock exceeding 19.99% of the company's outstanding shares, as per Nasdaq regulations. The Preferred Stock carries an 8% annual cumulative dividend, which could increase to 18% under certain conditions, with dividends payable quarterly in cash, stock, or a combination of both.

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