Energy EV Company Nuvve Plans to Raise $4.8 Million to Establish HYPE Token Reserve, Intends to Allocate 30% of Idle Funds to Bitcoin

According to ChainCatcher, citing a report from Businesswire, Nasdaq-listed clean energy electric vehicle charging technology company Nuvve has announced a public offering of 5,029,403 shares of common stock at $0.95 per share, raising approximately $4.8 million. Lucid Capital Markets acted as the bookrunner for this offering.

Nuvve stated that the funds raised will be used to purchase Hyperliquid’s native token HYPE to establish a token reserve. The company previously disclosed that its management has formulated a digital finance strategy and plans to allocate 30% of its idle funds to Bitcoin.