Nuvve Announces 1-for-40 Reverse Common Stock Split

(RTTNews) - Green energy technology company Nuvve Holding Corp. (NVVE) announced Thursday that it will effect a 1-for-40 reverse stock split of its common stock, to be effective as of 5:00 p.m. Eastern Time on Friday, January 19, 2024.

Nuvve's common stock will begin trading on a split-adjusted basis commencing upon market open on Monday, January 22, 2024.

Following the reverse stock split, the Company's common stock will continue to trade on the Nasdaq Capital Market under the symbol "NVVE" with the new CUSIP number, 67079Y209. The CUSIP number for the Company's publicly traded warrants will not change.

At the effective time of the reverse stock split, every 40 shares of Nuvve's issued and outstanding common stock will be automatically converted into one issued and outstanding share of common stock without any change in the par value of $0.0001 per share.

The reverse stock split will reduce the number of issued and outstanding shares of the Company's common stock from approximately 49.9 million shares to approximately 1.3 million shares.

Following the special meeting of stockholders, on January 5, 2024, the Company's Board of Directors approved a 1-for-40 reverse stock split.