Nuvve shares are trading lower after the company announced pricing of its $9.6 million underwritten public offering.
Portfolio Pulse from Benzinga Newsdesk
Nuvve Corporation's stock is trading lower following the announcement of a $9.6 million underwritten public offering. The offering is likely to dilute current shareholders, leading to a decrease in share value in the short term.
January 31, 2024 | 5:20 pm
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Nuvve Corporation announced a $9.6 million underwritten public offering, which is expected to dilute the value of existing shares, causing the stock price to trade lower.
Public offerings often lead to dilution of shares, which can result in a decrease in stock price as the market adjusts to the increased number of shares available. Given that Nuvve has announced a sizable offering, it is likely that the stock will face downward pressure in the short term as investors react to the dilution.
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