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Nuvve Receives 180 Calendar Day Extension from the Nasdaq Stock Market to Regain Compliance with Bid Price Rule
SAN DIEGO, Oct. 12, 2023 /PRNewswire/ -- Nuvve Holding Corp. ("Nuvve" or "the Company") (Nasdaq: NVVE), a global leader in vehicle-to-grid technology and
About this update from Nuvve Holding Corp.
[{"type":"text","content":"SAN DIEGO, Oct. 12, 2023 /PRNewswire/ -- Nuvve Holding Corp. (\"Nuvve\" or \"the Company\") (Nasdaq: NVVE), a global leader in vehicle-to-grid technology and deployments, announced today that it has received a 180 calendar day extension, until April 8, 2024, from the Nasdaq Stock Market (\"Nasdaq\"), to regain compliance with Nasdaq Marketplace Rule 5550(a)(2) (the \"Bid Price Rule\").\n\n \n \n \n \n \n \n\n \nThe Bid Price Rule stipulates that the bid price of Nuvve's common stock must close at $1.00 per share or more for a minimum of 10 consecutive business days. On April 14, 2023, Nuvve received notice from Nasdaq that based on the previous 30 consecutive business days, Nuvve's listed security no longer met the minimum $1.00 bid price per share requirement.\nNuvve will continue to monitor the closing bid price of its common stock and plans to pursue available options to regain compliance with the Bid Price Rule, including potentially pursuing a reverse stock split. If Nuvve authorizes a reverse stock split, it will plan to effectuate the split no later than ten business days prior to the end of the extension in order to timely regain compliance. \nAbout Nuvve Holding Corp. Nuvve Holding Corp. (Nasdaq: NVVE) is a global leader in vehicle-to-grid (V2G) technology serving the mission-critical needs of commercial fleets. The company's intelligent, cloud-based software, Nuvve GIVe™, is a platform that transforms electric fleets into mobile storage resources allowing them to contribute, and not just consume, electricity. It enables a flexible suite of V2G, charge management and grid services that provide electric grid resilience while also generating recurring revenues to offset fleet operation costs. Committed to accelerating the planet's transition to a net-zero future, Nuvve is securing fleet electrification partners across the e-mobility and grid value chain and supports active deployments around the world with 18.3 megawatts currently under management. Nuvve is headquartered in San Diego, Calif., USA. To learn more about the value of V2G, futureproofing EV infrastructure and using EVs for grid resilience, nuvve.com.\nNuvve Investor Contact ICR [email protected] | +1 646-200-8872\nNuvve Press Contact(W)right On Communications Larry Smalheiser | [email protected] | +1 925-413-3137 \nNuvve Forward Looking Statements Th...