Nuvve reports 180 calendar day extension from Nasdaq to regain compliance

Nuvve announced that it has received a 180 calendar day extension, until April 8, 2024, from the Nasdaq Stock Market to regain compliance with Nasdaq’s “Bid Price Rule.” “The Bid Price Rule stipulates that the bid price of Nuvve’s common stock must close at $1.00 per share or more for a minimum of 10 consecutive business days. On April 14, 2023, Nuvve received notice from Nasdaq that based on the previous 30 consecutive business days, Nuvve’s listed security no longer met the minimum $1.00 bid price per share requirement. Nuvve will continue to monitor the closing bid price of its common stock and plans to pursue available options to regain compliance with the Bid Price Rule, including potentially pursuing a reverse stock split. If Nuvve authorizes a reverse stock split, it will plan to effectuate the split no later than ten business days prior to the end of the extension in order to timely regain compliance,” the company stated.