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SAN DIEGO - Nuvve Holding Corp. (NASDAQ:NVVE), a vehicle-to-grid technology company trading near its 52-week low of $0.82, announced Thursday the pricing of an underwritten public offering of approximately 5 million shares of common stock at $0.95 per share, expected to raise about $4.8 million before expenses. According to InvestingPro analysis, the company’s financial health score is currently rated as WEAK, with concerning cash burn rates.
The company plans to use a portion of the proceeds to purchase HYPE, the native token of Hyperliquid, a decentralized exchange and Layer-1 blockchain, through its digital asset subsidiary. This move aligns with Nuvve’s previously announced cryptocurrency strategy, which allows for up to 50% of its cryptocurrency portfolio to be allocated to digital assets. With a current debt-to-capital ratio of 0.49 and negative free cash flow of $12.84 million in the last twelve months, this capital raise appears crucial for the company’s operations.
"We see Hyperliquid as a standout in today’s DeFi landscape," said Gregory Poilasne, CEO of Nuvve, according to the press release statement.
Lucid Capital Markets is acting as the sole book-running manager for the offering, which is expected to close around July 14, 2025. Nuvve has granted the underwriter a 45-day option to purchase up to an additional 754,411 shares at the public offering price.
The company indicated that beyond the cryptocurrency investment, proceeds will support working capital and general corporate purposes, potentially including strategic investments, mergers and acquisitions.
The offering is being conducted under a shelf registration statement filed with the Securities and Exchange Commission on June 27, 2025, and declared effective on July 7, 2025.
Nuvve describes itself as a global leader in vehicle-to-grid technology that enables electric vehicles to store and discharge energy, helping to stabilize the power grid while lowering EV ownership costs. Despite current challenges, analysts forecast revenue growth of 8.73% for FY2025. For deeper insights into Nuvve’s financial health and growth prospects, including 16 additional ProTips, check out the comprehensive research report available on InvestingPro.
In other recent news, Nuvve Holding Corp. announced a public offering of its common stock, with Lucid Capital Markets as the sole book-running manager. The offering is subject to market conditions, and the company has not disclosed its size or terms. This announcement follows the effectiveness of a shelf registration statement filed with the SEC. Additionally, Nuvve has entered into an employment agreement with Ted Smith, appointing him as CEO of its subsidiary, Nuvve New Mexico, LLC. Smith’s compensation includes a base salary and potential bonuses tied to revenue and capital raising milestones. In another development, Nuvve appointed Laura Huang and Brian Johnson to its Board of Directors, bringing expertise in organizational transformation and strategic finance. The company also issued warrants in new consulting agreements with three entities, involving services like crypto portfolio management and investor relations. These warrants are exercisable at specified prices and have ownership limitations to prevent excessive stock concentration.
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