Nuvve Holding Announces Pricing Of $9.6 Mln Public Offering, Stock Tanks

(RTTNews) - Nuvve Holding Corp. (NVVE), Wednesday announced the pricing of a public offering for proceeds of about $9.6 million. The company's stock plunged over 57%, following the news.

The offering is comprised of 4.8 million shares and 4.8 million Series A Warrants with an initial exercise price of $2.00 per share and a term of five years following the issuance date. The offering also includes 4.8 million Series B Warrants with an exercise price of $2.00 per share and a term of nine months following the issuance date and 4.8 million Series C Warrants with an exercise price of $2.00 per share and a term of five years following the issuance date.

NVVE is currently trading at $1.4350, down $1.9050 or 57.04%, on the Nasdaq. The stock opened its trading at $3.3800 after closing Tuesday's trading at $3.3400. The stock has traded between $1.4100 and $61.2000 in the past 52-week period.