Nuvve raises $250K via convertible note, overhauls preferred stock

What's the deal? Nuvve Holding Corp.Dealroom has a profile for this one. Try Dealroom → raised $250,000 through a private placement of a $280,000 convertible promissory note to FirstFire Global Opportunities Fund on September 10, 2026. The note carries 12% interest and matures on September 10, 2027. It converts into common stock at a variable price, with the investor's beneficial ownership capped at 4.99%.

What else happened? On the same day, NuvveDealroom has a profile for this one. Try Dealroom → exchanged all 2,238.655 outstanding Series A preferred shares for an equal number of newly created Series C Convertible Preferred shares.

The terms: Nuvve filed a Certificate of Designation in Delaware on September 15 setting the Series C's $1,000 stated value, 8% cumulative dividends, senior ranking in liquidation, and conversion at $1.40 per share with full-ratchet antidilution protection.

What's the endgame? Nuvve operates in the energy and clean-technology sector, focusing on electric vehicle charging and vehicle-to-grid solutions that integrate EVs into power markets. The company relies on private placements and structured securities to fund operations and manage its equity base. The new senior preferred layer and fresh convertible debt aim to improve near-term financing flexibility.

What could go wrong? The transactions could increase future dilution, and the new senior claims strengthen preferential rights on assets and distributions ahead of common shareholders. Nuvve remains unprofitable, with a market cap of $1.28 million, and faces a Nasdaq delisting that has reduced its capital access.

The signal: For a small, cash-burning issuer, convertible notes and senior preferred stock are among the few available financing tools. Nuvve's use of registration rights and structured conversion terms underscores a strategy built on convertible instruments to keep capital flowing.

Read more: tipranks.com

Image credit: Ivan Radic