Nuvve Holding Corp.
07/23/2026 | Press release | Distributed by Public on 07/23/2026 10:40
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 July 22, 2026, Nuvve Holding Corp. (the "Company") received written notification (the "Delist Determination") from The Nasdaq Stock Market LLC ("Nasdaq") that the Nasdaq Hearings Panel (the "Panel") had determined to delist the Company's common stock, par value $0.0001 per share (the "Common Stock"), from The Nasdaq Capital Market due to the Company's failure to demonstrate compliance with (i) the filing requirement set forth in Nasdaq Listing Rule 5250(c)(1) (the "Periodic Reporting Rule"), particularly with respect to the Company's Quarterly Report on Form 10-Q for the period ended March 31, 2026 (the "Quarterly Report"), ii) the $1.00 bid price requirement set forth in Nasdaq Listing Rule 5550(a)(1) (the "Bid Price Rule"), and (iii) the $2,500,000 stockholders' equity requirement set forth in Nasdaq Listing Rule 5550(b)(1) (the "Equity Rule" and, together with the Periodic Reporting Rule and the Bid Price Rule, the "Rules"). The Delist Determination indicated that trading in the Company's Common Stock will be suspended effective with the open of the market on Friday, July 24, 2026.
As previously reported, on April 20, 2026, the Company was notified by Nasdaq's Listing Qualifications Department (the "Staff") that, due to the Company's continued non-compliance with the Bid Price Rule, the Company's securities were subject to delisting from Nasdaq unless the Company timely requested a hearing before the Panel, which the Company did. Thereafter, on May 22, 2026, Nasdaq notified the Company that its non-compliance with the Periodic Reporting Rule could serve as an additional basis for delisting. Although the Company's non-compliance with the Equity Rule was not formally cited as a basis for delisting by the Staff, at the hearing on May 28, 2026, the Company presented its plan to evidence compliance with each of the Rules, including the Equity Rule. The Panel issued its decision on July 9, 2026, which required the filing of the Quarterly Report and compliance with the Equity Rule by July 13, 2026, and compliance with the Bid Price Rule for 20 consecutive business days by July 31, 2026.
In accordance with Nasdaq Listing Rule 5820, the Company may appeal the Delist Determination to the Nasdaq Listing and Hearing Review Council (the "Listing Council") within 15 days from the date of the Delist Determination. The Listing Council may also separately elect to review this matter within 45 days of the Delist Determination. In either event, the Listing Council may affirm, modify, reverse, or remand the Panel's decision. In the event the Company does not appeal the matter and the Listing Council declines to call the matter for review, Nasdaq will file a Form 25 with the Securities and Exchange Commission to formally effect the delisting of the Company's Common Stock from the exchange once all appeal and review periods have lapsed. The Company is considering all available options to reinitiate trading on Nasdaq as soon as practicable.
The Company expects its Common Stock to begin trading on the Pink Limited Information Tier of the OTC Markets system under its current trading symbol of "NVVE" effective at the open of trading on Friday, July 24, 2026. The Company intends to promptly apply to have its securities included in the OTCID tier and subsequently the OTCQB tier of the OTC Markets system.
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