Nuvve Holding Corp. entered into a Securities Purchase Agreement with FirstFire Global Opportunities Fund to issue a convertible promissory note with a principal amount of $280,000 and an original issue discount of $30,000, resulting in net proceeds of $250,000. The 12% interest-bearing note matures on September 10, 2027, and is convertible into common stock at a price equal to the lesser of $1.40 per share or 85% of the lowest trading price over the preceding ten days. Concurrently, holders of all outstanding Series A Preferred Stock exchanged their shares for an equivalent number of newly designated Series C Convertible Preferred Shares with a stated value of $1,000 and cumulative dividends at an 8% annual rate payable quarterly in cash or stock. The company also filed a Certificate of Designation to authorize these preferred shares. Nuvve Holding Corp. operates in the electric vehicle charging infrastructure industry.
