Nuvve Holding Corp.
09/03/2025 | Press release | Distributed by Public on 09/03/2025 14:26
Failure to Satisfy Listing Rule (Form 8-K)
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On August 27, 2025, Nuvve Holding Corp. (the "Company") received written notice (the "Notice") from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that, because the closing price for the Company's common stock had fallen below $1.00 per share for 30 consecutive trading days, the Company was no longer in compliance with the requirement for continued inclusion on The Nasdaq Capital Market under Nasdaq Marketplace Rule 5550(a)(2) (the "Bid Price Rule"). Further, the Notice stated that, pursuant to Listing Rule 5810(c)(3)(A)(iv), the Company was not eligible for any compliance period specified in Rule 5810(c)(3)(A) due to the fact that the Company has effected a reverse stock split over the prior one-year period and has effected one or more reverse stock splits over the prior two-year period with a cumulative ratio of 250 shares or more to one. The Notice also stated that since the Company remains noncompliant with the $2,500,000 minimum stockholders' equity rule under Listing Rule 550(b)(1) (the "Equity Rule"), such noncompliance with the Equity Rule serves as an additional and separate basis for delisting.
The Notice stated that the Company's securities will be suspended from trading on The Nasdaq Capital Market at the opening of business on September 5, 2025, and a Form 25-NSE will be filed with the U.S. Securities and Exchange Commission, which will remove the Company's securities from listing and registration on The Nasdaq Stock Market, unless the Company requests an appeal of such determination to Nasdaq's Hearings Panel (the "Panel") by September 3, 2025. On September 3, 2025, the Company timely requested a hearing with the Panel, which request will stay any further suspension or delisting action by Nasdaq at least pending the ultimate conclusion of the hearing process. There can be no assurance that the Panel will grant the Company's request for continued listing or that the Company will be able to regain compliance and thereafter maintain its listing on Nasdaq.
Nuvve Holding Corp. published this content on September 03, 2025, and is solely responsible for the information contained herein. Distributed via SEC EDGAR on September 03, 2025 at 20:26 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]