The MarketWatch News Department was not associated in the development of this articles.
NEW YORK, March 17, 2021 /PRNewswire by way of COMTEX/ —
NEW YORK, March 17, 2021 /PRNewswire/ — Newborn Acquisition Corp. (“Newborn”) (Nasdaq: NBAC), a publicly traded specific intent acquisition company, these days announced its shareholders have voted to approve the beforehand declared small business combination with Nuvve Company (“Nuvve”), a worldwide leader in motor vehicle-to-grid (V2G) technologies driving the electrification of transportation. The business mix and all relevant proposals ended up authorised by Newborn shareholders at an extraordinary standard conference on March 17, 2021 (Hong Kong time).
The closing is expected to occur in the future couple days. Upon completion of the enterprise combination, the Nasdaq ticker symbols for the shares of typical inventory and the warrants of the merged business, which will be named Nuvve Holdings Corp., are expected to be improved to “NVVE” and “NVVEW,” respectively.
About Nuvve Company
Nuvve Corporation is a San Diego-dependent inexperienced power technologies firm whose mission is to lower the charge of electric powered automobile ownership though supporting the integration of renewable electrical power resources, like photo voltaic and wind. Our proprietary motor vehicle-to-grid (V2G) technological innovation – Nuvve’s Grid Built-in Car or truck (GIVe™) system – is refueling the upcoming generation of electric car fleets via reducing-edge, bidirectional charging remedies. Considering that our founding in 2010, Nuvve has been liable for prosperous V2G initiatives on five continents and is deploying commercial providers globally.
Nuvve Press Get hold of
Marc Trahand, EVP Internet marketing
+1 858 250 9740
Nuvve Investor Contact
Robert Blum or Joe Dorame
+1 602 889 9700
About New child Acquisition Corp.
New child Acquisition Corp. is a blank look at company, holding roughly $57.5 million in its rely on account, formed for the reason of effecting a merger, share exchange, asset acquisition, share order, reorganization or comparable business blend with a single or extra organizations.
Ahead Wanting Statements
The information and facts in this push release involves “ahead-on the lookout statements” inside of the this means of Area 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Trade Act of 1934, as amended. All statements, other than statements of existing or historical point involved in this presentation, concerning the proposed business combination among New child and Nuvve and Nuvve’s approach, long run operations, believed and projected money performance, prospective buyers, options and goals are forward-hunting statements. When used in this press release, the words and phrases “could,” “really should,” “will,” “may perhaps,” “believe,” “anticipate,” “intend,” “estimate,” “hope,” “challenge,” the unfavorable of such terms and other very similar expressions are intended to detect ahead-looking statements, while not all forward-on the lookout statements contain this sort of pinpointing words and phrases. These forward-looking statements are dependent on management’s present anticipations and assumptions about long term events and are based mostly on presently out there info as to the final result and timing of future situations. Apart from as otherwise required by relevant regulation, Newborn and Nuvve disclaim any duty to update any ahead-seeking statements, all of which are expressly skilled by the statements in this section, to mirror activities or situation right after the date of this push launch. New child and Nuvve caution you that these forward-on the lookout statements are topic to many threats and uncertainties, most of which are tricky to predict and quite a few of which are past the control of possibly New child or Nuvve. In addition, Newborn cautions you that the ahead-looking statements contained in this press release are matter to the following variables: (i) the prevalence of any celebration, alter or other instances that could hold off the company mixture or give rise to the termination of the agreements associated thereto (ii) the end result of any lawful proceedings that may possibly be instituted from Newborn or Nuvve adhering to the consummation of the transactions (iii) the incapacity to entire the small business mix owing to the failure to fulfill the ailments to closing in the merger agreement (iv) the threat that the proposed enterprise mix disrupts Nuvve’s present programs and operations as a result of the announcement of the transactions (v) Nuvve’s capability to understand the predicted benefits of the company combination, which might be influenced by, among the other factors, competition and the means of Nuvve to improve and deal with expansion profitably adhering to the company mix (vi) expenses relevant to the company mix (vii) hazards connected to the rollout of Nuvve’s business enterprise and the timing of envisioned business milestones (viii) Nuvve’s dependence on popular acceptance and adoption of electric motor vehicles and increased installation of charging stations (ix) Nuvve’s means to sustain helpful inside controls in excess of economic reporting, like the remediation of determined materials weaknesses in inside control over economic reporting relating to segregation of duties with respect to, and access controls to, its financial report maintaining technique, and Nuvve’s accounting staffing amounts (x) Nuvve’s existing dependence on revenue of charging stations for most of its revenues (xi) in general demand from customers for electric car or truck charging and the potential for lowered need if governmental rebates, tax credits and other economical incentives are minimized, modified or eliminated or governmental mandates to enhance the use of electric motor vehicles or minimize the use of cars run by fossil fuels, either immediately or indirectly by means of mandated restrictions on carbon emissions, are reduced, modified or eliminated (xii) potential adverse consequences on Nuvve’s income and gross margins if clients progressively assert thoroughly clean vitality credits and, as a final result, they are no extended out there to be claimed by Nuvve (xiii) the results of opposition on Nuvve’s potential enterprise (xiv) dangers related to Nuvve’s dependence on its intellectual property and the threat that Nuvve’s technologies could have undetected problems or mistakes (xv) improvements in applicable regulations or rules (xvi) the COVID-19 pandemic and its outcome immediately on Nuvve and the financial state commonly (xvii) hazards associated to disruption of management time from ongoing small business operations due to the proposed organization mix (xvii) risks relating to privacy and facts security regulations, privacy or details breaches, or the reduction of information and (xix) the risk that Nuvve might be adversely influenced by other economic, business, and/or aggressive components. Must one particular or much more of the risks or uncertainties described in this push launch materialize or should underlying assumptions show incorrect, actual results and strategies could differ materially from all those expressed in any forward-on the lookout statements. More facts relating to these and other components that could affect the operations and projections reviewed herein can be observed in the proxy statement/prospectus filed by New child and Nuvve Keeping with the SEC and in the other studies that Newborn has filed and will file from time to time with the SEC, which includes its Annual Report on Sort 10-K for the fiscal yr finished December 31, 2019. Newborn’s and Nuvve Holding’s SEC filings are accessible publicly on the SEC’s internet site at www.sec.gov.
Source Nuvve Corporation Newborn Acquisition Corp.
Copyright (C) 2021 PR Newswire. All legal rights reserved
The MarketWatch Information Office was not involved in the development of this material.