Nuvve Holding Corp. Enters Material Definitive Agreement

TL;DR

Nuvve just signed a big deal, expect financial moves.

AI Summary

Nuvve Holding Corp. entered into a material definitive agreement on November 27, 2024, which involves a direct financial obligation. The company, incorporated in Delaware, is involved in the power, distribution & specialty transformers industry.

Why It Matters

This filing indicates a significant new financial commitment or obligation for Nuvve Holding Corp., which could impact its financial standing and future operations.

Risk Assessment

Risk Level: medium — Entering into material definitive agreements can introduce new financial obligations or strategic shifts that carry inherent risks.

Key Players & Entities

• Nuvve Holding Corp. (company) — Registrant
• November 27, 2024 (date) — Date of earliest event reported
• Delaware (jurisdiction) — State of Incorporation
• 2488 Historic Decatur Road, Ste 200 San Diego, CA (address) — Business Address

FAQ

Key Financial Figures

• $0.0001 — ich registered Common Stock, Par Value $0.0001 Per Share NVVE The Nasdaq Stock Market
• $1,050,000 — ent for an original principal amount of $1,050,000 (the "Principal Amount"). The Principal
• $50,000 — Loan includes an administrative fees of $50,000, paid at the closing of the Term Loan.
• $50,750 — 025. Principal and interest payments of $50,750 are payable in arrears weekly under the
• $472,500 — an is fully paid off. Total interest of $472,500 is expected to be paid over the thirty-

Filing Documents

• nvve-20241127.htm (8-K) — 36KB
• nvve-ex101xsubordinatedbus.htm (EX-10.1) — 310KB
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• 0001836875-24-000114.txt ( ) — 568KB
• nvve-20241127.xsd (EX-101.SCH) — 2KB
• nvve-20241127_def.xml (EX-101.DEF) — 16KB
• nvve-20241127_lab.xml (EX-101.LAB) — 27KB
• nvve-20241127_pre.xml (EX-101.PRE) — 16KB
• nvve-20241127_htm.xml (XML) — 4KB

01. Entry Into a Material Definitive Agreement

Item 1.01. Entry Into a Material Definitive Agreement. On November 27, 2024, Nuvve Holding Corp. (the "Company") entered into a Subordinated Business Loan and Security Agreement ("Term Loan") with Agile Lending, LLC, as lender, and Agile Capital Funding, LLC, as collateral agent for an original principal amount of $1,050,000 (the "Principal Amount"). The Principal Amount of the Term Loan includes an administrative fees of $50,000, paid at the closing of the Term Loan. The Term Loan will accrue interest at a weighted annual average rate of 153.90%, and has a maturity date of June 27, 2025. Principal and interest payments of $50,750 are payable in arrears weekly under the Term Loan effective November 27, 2024 to June 27, 2025, when the Term Loan is fully paid off. Total interest of $472,500 is expected to be paid over the thirty-week loan period. The Term Loan is secured by certain of the Company's assets, and it is evidenced by a subordinated secured promissory note. The Term Loan contains customary affirmative and negative covenants. Among other things, these covenants restrict the Company's ability to incur certain types or amounts of indebtedness, incur liens on certain assets, dispose of material assets, enter into certain restrictive agreements, or engage in certain transactions with affiliates. Additionally, the Term Loan contains customary default provisions including, but not limited to, failure to pay interest or principal when due. The foregoing description of the Term Loan is not complete and is qualified in its entirety by reference to the full text of the Term Loan, a copy of the form of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference. Item 2.03 Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant. The information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 10.1 Subordinated Business Loan and Security Agreement, dated November 27, 2024, by and among Nuvve Holding Corp. as borrower, Agile Lending, LLC, as Lender, and Agile Capital Funding, LLC, as collateral agent. 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: December 3, 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