Nuvve Updates Shareholders on Compliance Measures

Rhea-AI Summary

Nuvve Holding Corp. (Nasdaq: NVVE), a leader in vehicle-to-grid (V2G) technology, has issued a letter to shareholders regarding actions taken to regain compliance with Nasdaq's Bid Price Rule. The company recently executed a 1-for-10 reverse stock split, resulting in 652,727 shares outstanding. Nuvve encourages shareholders to protect their shares against market manipulation through measures such as holding shares in cash accounts and requesting "no loan" status.

The company has provided a link to the full shareholder letter on their website and offered an investor relations contact for further information. This update demonstrates Nuvve's efforts to maintain its Nasdaq listing and address potential market manipulation concerns.

Positive

• Executed a 1-for-10 reverse stock split to regain Nasdaq compliance
• Proactively addressing potential market manipulation

Negative

• Needed to perform a reverse stock split to maintain Nasdaq listing

News Market Reaction – NVVE

-2.30%

1 alert

-2.30% News Effect

On the day this news was published, NVVE declined 2.30%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

SAN DIEGO, Sept. 24, 2024 /PRNewswire/ -- Nuvve Holding Corp. (Nasdaq: NVVE), a leader in vehicle-to-grid (V2G) technology, has issued a letter to shareholders regarding actions taken to regain compliance with Nasdaq's Bid Price Rule. 

Nuvve recently executed a 1-for-10 reverse stock split, resulting in 652,727 shares outstanding. The Company encourages shareholders to protect their shares against market manipulation through actions such as holding shares in cash accounts and requesting "no loan" status. 

For shareholder letter: https://nuvve.com/shareholder-letter/  

For more information, contact investors@nuvve.com. 

About Nuvve Holding Corp. Nuvve (Nasdaq: NVVE) transforms electric vehicles into grid resources, driving the transition to a net-zero future. Learn more at nuvve.com 

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SOURCE Nuvve Holding Corp.

FAQ

What actions has Nuvve (NVVE) taken to regain Nasdaq compliance?

Nuvve (NVVE) has executed a 1-for-10 reverse stock split to regain compliance with Nasdaq's Bid Price Rule.

How many outstanding shares does Nuvve (NVVE) have after the reverse stock split?

After the 1-for-10 reverse stock split, Nuvve (NVVE) has 652,727 shares outstanding.

What measures does Nuvve (NVVE) recommend to protect shares against market manipulation?

Nuvve (NVVE) recommends shareholders hold shares in cash accounts and request "no loan" status to protect against market manipulation.

Where can shareholders find Nuvve's (NVVE) letter regarding compliance measures?

Shareholders can find Nuvve's (NVVE) letter regarding compliance measures at https://nuvve.com/shareholder-letter/.