NEW YORK, March 17, 2021 /PRNewswire/ — Newborn Acquisition Corp. (“Newborn”) (Nasdaq: NBAC), a publicly traded exclusive purpose acquisition business, currently announced its shareholders have voted to approve the beforehand introduced business enterprise mix with Nuvve Corporation (“Nuvve”), a international leader in car-to-grid (V2G) technological know-how driving the electrification of transportation. The business enterprise mixture and all related proposals had been authorized by Newborn shareholders at an extraordinary standard assembly on March 17, 2021 (Hong Kong time).
The closing is envisioned to take place in the subsequent handful of days. Upon completion of the enterprise mixture, the Nasdaq ticker symbols for the shares of frequent inventory and the warrants of the put together organization, which will be named Nuvve Holdings Corp., are expected to be modified to “NVVE” and “NVVEW,” respectively.
About Nuvve Company
Nuvve Corporation is a San Diego-based environmentally friendly energy engineering firm whose mission is to reduce the price tag of electrical car or truck possession whilst supporting the integration of renewable electricity resources, which include photo voltaic and wind. Our proprietary motor vehicle-to-grid (V2G) technological innovation – Nuvve’s Grid Built-in Car or truck (GIVe™) platform – is refueling the up coming technology of electric powered car or truck fleets via slicing-edge, bidirectional charging methods. Given that our founding in 2010, Nuvve has been responsible for thriving V2G jobs on five continents and is deploying professional services globally.
Nuvve Press Contact
Marc Trahand, EVP Advertising
+1 858 250 9740
Nuvve Investor Contact
Robert Blum or Joe Dorame
+1 602 889 9700
About Newborn Acquisition Corp.
New child Acquisition Corp. is a blank check out business, holding somewhere around $57.5 million in its believe in account, fashioned for the goal of effecting a merger, share exchange, asset acquisition, share obtain, reorganization or equivalent enterprise blend with a single or far more organizations.
Forward Seeking Statements
The info in this push launch contains “forward-wanting statements” in just the indicating of Area 27A of the Securities Act of 1933, as amended, and Segment 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of current or historical actuality included in this presentation, regarding the proposed business enterprise mix between Newborn and Nuvve and Nuvve’s technique, future operations, estimated and projected fiscal functionality, prospects, options and targets are ahead-searching statements. When utilised in this push release, the terms “could,” “ought to,” “will,” “may perhaps,” “feel,” “anticipate,” “intend,” “estimate,” “be expecting,” “job,” the damaging of this sort of conditions and other related expressions are supposed to detect ahead-hunting statements, whilst not all forward-wanting statements comprise these kinds of figuring out words. These ahead-on the lookout statements are primarily based on management’s current expectations and assumptions about long term situations and are based mostly on currently obtainable info as to the outcome and timing of long term functions. Except as normally required by applicable regulation, New child and Nuvve disclaim any duty to update any ahead-on the lookout statements, all of which are expressly skilled by the statements in this area, to replicate situations or instances soon after the day of this press launch. New child and Nuvve caution you that these forward-hunting statements are topic to various risks and uncertainties, most of which are challenging to forecast and many of which are further than the management of either New child or Nuvve. In addition, New child cautions you that the ahead-searching statements contained in this push release are matter to the following aspects: (i) the prevalence of any function, change or other circumstances that could hold off the enterprise mix or give increase to the termination of the agreements associated thereto (ii) the final result of any authorized proceedings that may possibly be instituted from New child or Nuvve subsequent the consummation of the transactions (iii) the inability to total the business enterprise mixture due to the failure to fulfill the conditions to closing in the merger agreement (iv) the possibility that the proposed business mix disrupts Nuvve’s latest ideas and functions as a result of the announcement of the transactions (v) Nuvve’s ability to understand the expected benefits of the small business mix, which may perhaps be affected by, among the other matters, level of competition and the skill of Nuvve to increase and handle growth profitably adhering to the company combination (vi) costs connected to the small business mixture (vii) dangers related to the rollout of Nuvve’s business and the timing of expected small business milestones (viii) Nuvve’s dependence on prevalent acceptance and adoption of electric motor vehicles and amplified set up of charging stations (ix) Nuvve’s capability to sustain productive internal controls in excess of economic reporting, including the remediation of identified product weaknesses in inner control in excess of monetary reporting relating to segregation of obligations with respect to, and access controls to, its fiscal file maintaining procedure, and Nuvve’s accounting staffing degrees (x) Nuvve’s present-day dependence on income of charging stations for most of its revenues (xi) in general demand for electrical vehicle charging and the potential for diminished need if governmental rebates, tax credits and other monetary incentives are reduced, modified or removed or governmental mandates to raise the use of electric automobiles or minimize the use of autos driven by fossil fuels, both directly or indirectly by means of mandated limits on carbon emissions, are lowered, modified or eradicated (xii) opportunity adverse effects on Nuvve’s revenue and gross margins if shoppers more and more assert clear strength credits and, as a outcome, they are no longer readily available to be claimed by Nuvve (xiii) the effects of level of competition on Nuvve’s long run company (xiv) hazards associated to Nuvve’s dependence on its mental property and the hazard that Nuvve’s technological know-how could have undetected problems or glitches (xv) changes in applicable legal guidelines or restrictions (xvi) the COVID-19 pandemic and its effect instantly on Nuvve and the economic climate usually (xvii) hazards associated to disruption of management time from ongoing business enterprise functions thanks to the proposed business blend (xvii) risks relating to privacy and facts security regulations, privateness or data breaches, or the loss of knowledge and (xix) the possibility that Nuvve could be adversely influenced by other economic, small business, and/or competitive variables. Must just one or more of the pitfalls or uncertainties described in this press release materialize or need to underlying assumptions establish incorrect, genuine final results and options could differ materially from individuals expressed in any ahead-hunting statements. Further info regarding these and other things that may affect the functions and projections talked over herein can be uncovered in the proxy assertion/prospectus filed by Newborn and Nuvve Keeping with the SEC and in the other reviews that Newborn has filed and will file from time to time with the SEC, which include its Annual Report on Variety 10-K for the fiscal year ended December 31, 2019. Newborn’s and Nuvve Holding’s SEC filings are obtainable publicly on the SEC’s site at www.sec.gov.
Supply Nuvve Corporation Newborn Acquisition Corp.