Nuvve announces public offering of common stock

SAN DIEGO - Nuvve Holding Corp. (NASDAQ:NVVE), a vehicle-to-grid technology company with a market capitalization of $10.35 million, announced Thursday it is commencing an underwritten public offering of shares of its common stock, according to a press release statement. According to InvestingPro data, the company’s stock has declined nearly 67% year-to-date.

Lucid Capital Markets is serving as the sole book-running manager for the offering. The company noted that the offering is subject to market conditions, with no guarantee regarding its completion, size, or terms. InvestingPro analysis indicates the company operates with a significant debt burden and is quickly burning through cash, with revenue of just $5.44 million in the last twelve months.

The offering is being conducted under a shelf registration statement on Form S-3 that was filed with the Securities and Exchange Commission on June 27, 2025, and declared effective on July 7, 2025.

Nuvve plans to file a preliminary prospectus supplement and accompanying prospectus related to the offering with the SEC, which will be available on the SEC’s website.

The San Diego-based company describes itself as a provider of vehicle-to-grid technology that enables electric vehicles to store and discharge energy, helping to stabilize the power grid.

This announcement comes just three days after the company’s shelf registration statement was declared effective by the SEC. The company did not disclose the intended use of proceeds from the offering in its statement.

In other recent news, Nuvve Holding Corp reported its financial results for Q1 2025, highlighting a 12.5% increase in revenue to $900,000 compared to the same period last year. The company’s gross margins improved to 39.9%, while the net loss slightly narrowed to $6.9 million. In addition to financial updates, Nuvve announced a public offering of common stock, although the size and pricing remain undisclosed. This offering is being managed by Lucid Capital Markets and is subject to market conditions. In a strategic move, the company signed an employment agreement with Ted Smith, who will serve as CEO of Nuvve New Mexico, LLC. Furthermore, Nuvve appointed Laura Huang and Brian Johnson to its Board of Directors, bringing expertise in organizational transformation and strategic finance. The company also entered into consulting agreements involving the issuance of warrants for common stock purchase, as detailed in a recent SEC filing. These developments underscore Nuvve’s efforts to strengthen its market position in the vehicle-to-grid technology sector.

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