Energy electric vehicle company Nuvve plans to raise $4.80 million to establish a HYPE token reserve, and plans to invest 30% of idle funds into Bitcoin.

On July 13, according to businesswire, Nasdaq-listed clean energy electric vehicle charging technology company Nuvve announced a public offering of 5,029,403 shares of common stock at a price of $0.95 per share, raising a total of approximately $4.80 million. Lucid Capital Markets served as the book-running manager 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 had previously disclosed that management had developed a digital financial strategy and plans to allocate 30% of idle funds to Bitcoin. [Deep Tide TechFlow]