Nuvve Holding Corp. Files 8-K for Material Agreement

TL;DR

Nuvve Holding Corp. signed a new material agreement on Aug 16, 2024. 8-K filed.

AI Summary

Nuvve Holding Corp. filed an 8-K on August 22, 2024, reporting a material definitive agreement entered into on August 16, 2024. The filing also includes financial statements and exhibits. Nuvve Holding Corp. is incorporated in Delaware and headquartered in San Diego, California.

Why It Matters

This filing indicates a significant new agreement for Nuvve Holding Corp., which could impact its business operations and financial performance.

Risk Assessment

Risk Level: medium — Material definitive agreements can introduce new risks or opportunities that may affect the company's future performance.

Key Players & Entities

• Nuvve Holding Corp. (company) — Registrant
• August 16, 2024 (date) — Date of earliest event reported
• August 22, 2024 (date) — Date of report
• San Diego, California (location) — Principal Executive Offices

FAQ

Key Financial Figures

• $0.0001 — ich registered Common Stock, Par Value $0.0001 Per Share NVVE The Nasdaq Stock Market
• $51 — Nuvve CPO and Wise agreed to contribute $51 and $49, respectively to the SPV, and t
• $49 — O and Wise agreed to contribute $51 and $49, respectively to the SPV, and to provid
• $1.5 million — to incur project costs of approximately $1.5 million and anticipates receiving grant subsidi

Filing Documents

• nvve-20240816.htm (8-K) — 35KB
• 0001836875-24-000067.txt ( ) — 199KB
• nvve-20240816.xsd (EX-101.SCH) — 2KB
• nvve-20240816_def.xml (EX-101.DEF) — 16KB
• nvve-20240816_lab.xml (EX-101.LAB) — 27KB
• nvve-20240816_pre.xml (EX-101.PRE) — 16KB
• nvve-20240816_htm.xml (XML) — 4KB

01. Entry Into a Material Definitive Agreement

Item 1.01. Entry Into a Material Definitive Agreement. On August 16, 2024, Nuvve Holding Corp. , a Delaware corporation (the "Company") , Nuvve CPO Inc., a wholly-owned subsidiary of the Company ("Nuvve CPO"), and WISE EV-LLC ("Wise"), entered into the definitive agreements described below in connection with the formation of Deep Impact 1 LLC, a Delaware limited liability company (the "SPV") in which the Company will hold a 51% equity interest by way of Nuvve CPO and in which Wise will hold a 49% equity interest. SPV is an entity formed for the principal purpose of operation, installation, maintenance of electric vehicle chargers and other related activities and services created as a joint venture between the Company, Nuvve CPO and Wise. In connection with the SPV, Nuvve CPO, Wise and SPV entered into a Contribution and Unit Purchase Agreement (the "Contribution Agreement"), pursuant to which Nuvve CPO and Wise agreed to contribute $51 and $49, respectively to the SPV, and to provide certain services pursuant to separate services agreements to SPV. For such contributions and the services, Nuvve CPO received 51 membership units in SPV, equal to a 51% equity interest, and Wise received 49 membership units in SPV, equal to a 49% equity interest. In connection with the formation of the SPV, the SPV expects to incur project costs of approximately $1.5 million and anticipates receiving grant subsidies established to accelerate the adoption of electric vehicles which will support the costs required for the project. In addition, the SPV expects to issue promissory notes (each a "Promissory Note") to each of Gregory Poilasne and David Robson, the Chief Executive Officer and Chief Financial Officer of the Company, respectively (the "Investors"), to further support project costs in exchange for their investment into the SPV. The Promissory Notes will have a term of three years and bear interest at a rate of 17.5% per annum. The Promissory Notes shall further provide th

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document. 1 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: August 22, 2024 NUVVE HOLDING CORP. By: /s/ Gregory Poilasne Gregory Poilasne Chief Executive Officer 2

View Full Filing

View this 8-K filing on SEC EDGAR