Nuvve (NASDAQ:NVVE) stock is sliding lower on Wednesday as the green energy technology company prepares for a public share offering.
A filing with the Securities and Exchange Commission (SEC) reveals that Nuvve is considering a public offering for shares of NVVE stock. However, the company hasn’t revealed the finer details of the offering just yet.
What this means is investors still don’t know how many shares the company will offer or what they will be priced at. What we do know is that Nuvve plans to offer pre-funded warrants to certain investors; they would see their stakes increase beyond 4/9% or 9.9% by buying new shares in the offering.
Why This Matters for NVVE Stock
Even without the details about the offering, investors in NVVE stock aren’t happy about the news. That makes sense as a stock offering increases the total number of shares on the market. That means it also reduces the stakes of current shareholders in the company.
Another reason that NVVE stock is likely falling is the pricing of the offering. While a number hasn’t been revealed yet, it could be at a discounted price. That also wouldn’t sit well with traders currently holding the company’s shares.
NVVE stock is down 37% as of Wednesday morning. That comes with more than 2 million shares traded, as compared to a daily average of about 363,000 shares.
Investors who are seeking out even more of the most recent stock market stories will want to stick around!
We’ve got all of the biggest stock market news worth reading about on Wednesday! That includes everything happening with shares of Nuzee (NASDAQ:NUZE) stock, RVL Pharmaceuticals (NASDAQ:RVLP) stock and Shift Technologies (NASDAQ:SFT) stock today. You can read up on all of these topics at the following links!
More Stock Market News for Wednesday
- Why Is Nuzee (NUZE) Stock Down 36% Today?
- Why Is RVL Pharmaceuticals (RVLP) Stock Up 40% Today?
- Why Is Shift Technologies (SFT) Stock Up 111% Today?
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
