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Shareholders of Nuvve Holding Corp. (NASDAQ:NVVE) approved a proposal authorizing the company’s board of directors to implement a reverse stock split of its common stock, according to a statement released Wednesday based on a recent SEC filing.
The decision was made during a special meeting of stockholders held on Monday. The approved amendment to Nuvve’s Amended and Restated Certificate of Incorporation gives the board discretion to enact a reverse stock split at a ratio ranging from 1-for-2 up to 1-for-40. The specific ratio and timing will be determined by the board.
Of the 19,942,839 shares of common stock outstanding as of the record date of September 4, 2025, a total of 7,542,292 shares (representing 37.81% of shares eligible to vote) were present in person or by proxy, constituting a quorum.
Voting results for the reverse stock split proposal were 6,100,498 shares in favor, 1,397,702 shares against, and 44,092 abstentions. There were no broker non-votes recorded.
A second proposal, which would have allowed for adjournment of the meeting to solicit additional votes if necessary, was not presented as the required votes to approve the reverse stock split proposal had already been obtained.
Nuvve’s common stock and warrants trade on The Nasdaq Stock Market LLC under the symbols NVVE and NVVEW, respectively.
The information in this article is based on a press release statement and the company’s SEC filing.
In other recent news, Nuvve Holding Corp. has secured a second contract with Sourcewell, enhancing its capacity to deliver electric vehicle charging solutions to over 75,000 public agencies. This agreement simplifies the procurement process for various organizations, allowing them to directly access Nuvve’s infrastructure and energy management software. Additionally, Nuvve disclosed a Receivable Assignment Agreement with its CEO and CFO, transferring a $400,000 receivable to them for $266,000 in cash. This receivable originated from a Termination Agreement with Switch EV Ltd.
Nuvve is also facing a potential delisting from the Nasdaq Capital Market due to non-compliance with minimum bid price and stockholders’ equity requirements. The company has requested a hearing to appeal this delisting determination. Meanwhile, Nuvve’s shareholders approved the election of Jon M. Montgomery and Laura Huang as Class A directors for three-year terms at the company’s 2025 Annual Meeting. Changes to the equity plan were also approved during this meeting.
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