other material
confidence high
sentiment negative
materiality 0.75
Nuvve corrects private placement: 6,000 preferred shares at $5.4M, adds ELOC investor
Nuvve Holding Corp.
- Corrected prior 8-K: offering is for 6,000 Series A Convertible Preferred shares, aggregate stated value $6M, purchase price $5.4M.
- Preferred convert at 90% of pre-closing price; 8% dividend (18% on trigger); warrants at 135% of close, 5-year term.
- Additional Investment Right for up to $25M; mandatory $4M exercise every 6 months until $20M proceeds received.
- ELOC facility amended to include Hailstone Peak Funding; company may sell up to $25M common at 93% of market price.
- Full ratchet anti-dilution protection and Floor Price set at 20% of initial conversion price.