SAN DIEGO, Oct. 20, 2023   /PRNewswire/ -- Nuvve Holding Corp.  (Nasdaq: NVVE) ("Nuvve"), a global technology leader accelerating the electrification of transportation through its proprietary vehicle-to-grid (V2G) platform, announced today the closing of an underwritten public offering of 7,142,857 shares of common stock at a price to the public of $0.14 per share. The Company intends to use the net proceeds from this offering for working capital and other general corporate purposes.

In addition, the Company granted Aegis Capital Corp., the underwriter ("Aegis"), a 45-day option to purchase up to an additional 1,071,428 shares of common stock at the public offering price per share, less the underwriting discounts and expenses, to cover over-allotments. On October 20, 2023, Aegis partially exercised its over-allotment option with respect to 797,243 shares of common stock.

Gross proceeds for the offering were approximately $1.1 million, before deducting underwriting discounts and other offering expenses.

Aegis Capital Corp. acted as the sole book-running manager for the Offering.

This offering was being made pursuant to an effective shelf registration statement on Form S-3 (No. 333-264462) declared effective by the U.S. Securities and Exchange Commission (the "SEC") on May 5, 2022. A final prospectus supplement and accompanying shelf prospectus describing the terms of the proposed offering have been filed with the SEC and are available on the SEC's website located at http://www.sec.gov. Electronic copies of the final prospectus supplement and the accompanying shelf prospectus may be obtained by contacting Aegis Capital Corp., Attention: Syndicate Department, 1345 Avenue of the Americas, 27th floor, New York, NY 10105, by email at This email address is being protected from spambots. You need JavaScript enabled to view it., or by telephone at (212) 813-1010. Before investing in this offering, interested parties should read in their entirety the prospectus supplement and the accompanying prospectus and the other documents that the Company has filed with the SEC and that are incorporated by reference in such prospectus supplement and the accompanying prospectus, which provide more information about the Company and such offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Nuvve Holding Corp.

Nuvve (Nasdaq: NVVE) is a global technology leader accelerating the electrification of transportation through its proprietary vehicle-to-grid (V2G) platform. Nuvve's mission is to lower the cost of electric vehicle ownership while supporting the integration of renewable energy sources, including solar and wind. For more information please visit www.nuvve.com.

Nuvve Press Contact

(W)right On Communications, Larry Smalheiser

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Nuvve Investor Contact

ICR Inc.

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Forward-Looking Statements:

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act and other securities laws. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and similar expressions or variations of such words are intended to identify forward-looking statements. For example, the Company is using forward-looking statements when it discusses use of proceeds from the offering, and the timing and terms of the offering. Forward-looking statements are not historical facts, and are based upon management's current expectations, beliefs and projections, many of which, by their nature, are inherently uncertain. Such expectations, beliefs and projections are expressed in good faith. However, there can be no assurance that management's expectations, beliefs or projections will be achieved, and actual results may differ materially from what is expressed in, or indicated by, the forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the forward-looking statements. Forward-looking statements speak only as of the date the statements are made. The Company assumes no obligation to update forward-looking statements to reflect actual results, subsequent events or circumstances, changes in assumptions or changes in other factors affecting forward-looking information except to the extent required by applicable securities laws. If the Company does update one or more forward-looking statements, no inference should be drawn that the Company will make additional updates with respect thereto or with respect to other forward-looking statements.