Core Viewpoint - Nuvve Holding Corp. has successfully completed a private placement of senior convertible notes and warrants, raising approximately $3.375 million for working capital and corporate purposes [1][4]. Financing Details - The company issued $3,750,000.01 principal amount of senior convertible notes with a 10% original issue discount, resulting in gross proceeds of $3,375,000.01 [1]. - The notes carry an interest rate of 8.0% per annum and have an 18-month maturity, with a possible six-month extension [3]. - The notes are convertible into up to 1,102,295 shares of common stock at a conversion price of $3.402 per share, reflecting a 10% discount to the closing price prior to the placement [3]. - Investors have the option to purchase an additional $12.5 million in notes and warrants [3]. Warrants Information - As part of the private placement, Nuvve issued warrants to purchase up to 1,102,295 shares at an exercise price of $3.78 per share, exercisable for five years [4]. Use of Proceeds - The net proceeds from the private placement will be utilized for working capital and general corporate purposes [4]. Regulatory Compliance - Nuvve will file a registration statement for the resale of shares issuable upon conversion of the notes and exercise of the warrants, and will seek stockholder approval for the issuance of these shares [5].
Nuvve Announces Private Placement of Senior Convertible Notes and Warrants