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NUVVE ANNOUNCES 1-FOR-10 REVERSE STOCK SPLIT
NVVENuvve (NVVE) Prnewswire·2024-09-13 10:00

Core Points - Nuvve Holding Corp. announced a 1-for-10 reverse stock split effective September 16, 2024, to comply with Nasdaq's minimum bid price requirement of 1.00pershare[1][3]−Thereversestocksplitwillreducethenumberofoutstandingsharesfromapproximately6.5milliontoabout0.7million,whilethetotalauthorizedshareswillremainunchanged[2][3]−Thereversestocksplitwillnotaffecttheparvalueoftheshares,whichremainsat1.00 per share [1][3] - The reverse stock split will reduce the number of outstanding shares from approximately 6.5 million to about 0.7 million, while the total authorized shares will remain unchanged [2][3] - The reverse stock split will not affect the par value of the shares, which remains at 0.0001 per share [2] Company Overview - Nuvve Holding Corp. specializes in vehicle-to-grid (V2G) technology, enabling electric vehicle (EV) batteries to store and resell unused energy back to the grid [1][5] - The company aims to enhance sustainable transportation and support the transition to clean energy by transforming EVs into mobile energy storage assets [5] - Nuvve has deployed V2G technology on five continents since its founding in 2010 and offers electrification solutions for various fleet types [5]