Nxu, Inc. Announces 1-for-20 Reverse Stock Split
Nxu Inc (NASDAQ: NXU) announced a 1-for-20 reverse stock split effective March 31, 2025. The split is part of the company's strategy to maintain NASDAQ compliance and facilitate its proposed merger with Verde Bioresins.
Following the split, every 20 shares of Class A common stock will combine into one share, with trading under symbol 'NXU' continuing on the Nasdaq Capital Market. The new CUSIP number will be 62956D303, maintaining a $0.0001 par value per share. Proportionate adjustments will apply to outstanding options, warrants, and equity awards.
Stockholders approved this action at a special meeting on February 11, 2025. No fractional shares will be issued, with any fractional results rounded up to the nearest whole share. The total number of authorized shares remains unchanged, and stockholders with book-entry or brokerage accounts need not take action.
Nxu Inc (NASDAQ: NXU) ha annunciato uno scissione azionaria inversa 1-per-20 che entrerà in vigore il 31 marzo 2025. Questa operazione fa parte della strategia dell'azienda per mantenere la conformità con NASDAQ e facilitare la sua proposta di fusione con Verde Bioresins.
Dopo la scissione, ogni 20 azioni ordinarie di Classe A si uniranno in un'unica azione, con il trading che continuerà sotto il simbolo 'NXU' nel Nasdaq Capital Market. Il nuovo numero CUSIP sarà 62956D303, mantenendo un valore nominale di $0.0001 per azione. Gli aggiustamenti proporzionali si applicheranno a opzioni, warrant e premi azionari in circolazione.
Gli azionisti hanno approvato questa azione durante un incontro speciale l'11 febbraio 2025. Non saranno emesse azioni frazionarie, con eventuali risultati frazionari arrotondati all'azione intera più vicina. Il numero totale di azioni autorizzate rimane invariato e gli azionisti con conti di registrazione o di intermediazione non devono intraprendere alcuna azione.
Nxu Inc (NASDAQ: NXU) anunció una división de acciones inversa 1 por 20 que entrará en vigor el 31 de marzo de 2025. Esta división es parte de la estrategia de la empresa para mantener la conformidad con NASDAQ y facilitar su propuesta de fusión con Verde Bioresins.
Después de la división, cada 20 acciones comunes de Clase A se combinarán en una acción, continuando el comercio bajo el símbolo 'NXU' en el Nasdaq Capital Market. El nuevo número CUSIP será 62956D303, manteniendo un valor nominal de $0.0001 por acción. Se aplicarán ajustes proporcionales a las opciones, warrants y premios de acciones en circulación.
Los accionistas aprobaron esta acción en una reunión especial el 11 de febrero de 2025. No se emitirán acciones fraccionarias, y cualquier resultado fraccionario se redondeará a la acción entera más cercana. El número total de acciones autorizadas permanece sin cambios, y los accionistas con cuentas de registro o corretaje no necesitan tomar ninguna acción.
Nxu Inc (NASDAQ: NXU)는 2025년 3월 31일부터 시행되는 1대 20 비율의 주식 분할을 발표했습니다. 이 분할은 NASDAQ 준수를 유지하고 Verde Bioresins와의 제안된 합병을 촉진하기 위한 회사의 전략의 일환입니다.
분할 후, 클래스 A 보통주 20주가 하나의 주식으로 합쳐지며, 'NXU' 기호 아래에서 나스닥 자본 시장에서 거래가 계속됩니다. 새로운 CUSIP 번호는 62956D303이며, 주당 $0.0001의 액면가를 유지합니다. 미결 옵션, 워런트 및 주식 보상에 비례 조정이 적용됩니다.
주주들은 2025년 2월 11일 특별 회의에서 이 조치를 승인했습니다. 분할된 주식은 발행되지 않으며, 분할 결과는 가장 가까운 정수 주식으로 반올림됩니다. 승인된 주식 총 수는 변경되지 않으며, 장부 등록 또는 중개 계좌를 가진 주주들은 별도의 조치를 취할 필요가 없습니다.
Nxu Inc (NASDAQ: NXU) a annoncé une fusion d'actions inversée 1 pour 20 qui prendra effet le 31 mars 2025. Cette opération fait partie de la stratégie de l'entreprise pour maintenir sa conformité avec NASDAQ et faciliter sa proposition de fusion avec Verde Bioresins.
Après la fusion, chaque 20 actions ordinaires de Classe A seront regroupées en une seule action, le commerce se poursuivant sous le symbole 'NXU' sur le Nasdaq Capital Market. Le nouveau numéro CUSIP sera 62956D303, maintenant une valeur nominale de 0,0001 $ par action. Des ajustements proportionnels s'appliqueront aux options, bons de souscription et récompenses en actions en circulation.
Les actionnaires ont approuvé cette mesure lors d'une assemblée spéciale le 11 février 2025. Aucune action fractionnaire ne sera émise, les résultats fractionnaires étant arrondis à l'action entière la plus proche. Le nombre total d'actions autorisées reste inchangé, et les actionnaires ayant des comptes de tenue de livres ou de courtage n'ont pas besoin de prendre de mesures.
Nxu Inc (NASDAQ: NXU) gab eine 1-für-20 Rückwärtsteilung bekannt, die am 31. März 2025 in Kraft tritt. Diese Teilung ist Teil der Strategie des Unternehmens, die NASDAQ-Konformität aufrechtzuerhalten und die vorgeschlagene Fusion mit Verde Bioresins zu erleichtern.
Nach der Teilung werden 20 Aktien der Stammaktien der Klasse A zu einer Aktie zusammengelegt, wobei der Handel unter dem Symbol 'NXU' weiterhin am Nasdaq Capital Market stattfindet. Die neue CUSIP-Nummer wird 62956D303 sein, wobei ein Nennwert von $0.0001 pro Aktie beibehalten wird. Proportionale Anpassungen gelten für ausstehende Optionen, Warrants und Aktienvergütungen.
Die Aktionäre genehmigten diese Maßnahme auf einer Sonderversammlung am 11. Februar 2025. Es werden keine Bruchteile von Aktien ausgegeben, und alle Bruchwerte werden auf die nächstgelegene ganze Aktie aufgerundet. Die Gesamtzahl der genehmigten Aktien bleibt unverändert, und Aktionäre mit Buchungseinträgen oder Brokerage-Konten müssen keine Maßnahmen ergreifen.
- Potential improvement in stock marketability due to higher share price
- Maintains NASDAQ listing compliance
- Facilitates proposed merger with Verde Bioresins
- Significant share consolidation (20:1 ratio) indicates serious price decline
- Reverse split suggests company facing listing compliance issues
- No fundamental value change despite share price increase
Insights
Nxu's announcement of a 1-for-20 reverse stock split signals significant challenges for this micro-cap company. With a current share price of
The CEO explicitly acknowledged this motivation, stating the split is necessary to "maintain our NASDAQ compliance" and facilitate their "proposed merger with Verde Bioresins." The post-split share price would mathematically rise to approximately
However, this action doesn't alter Nxu's fundamental business position or market valuation - it merely consolidates existing equity into fewer shares. The extreme ratio chosen (the maximum shareholders authorized) highlights the severity of the company's situation.
Reverse splits typically carry negative connotations in the market as they're often implemented by companies facing financial distress. While successful completion might prevent immediate delisting concerns, such dramatic share consolidations frequently precede continued selling pressure and volatility as the underlying business challenges remain unchanged.
The pending Verde Bioresins merger could potentially provide strategic benefits, but the article offers insufficient details to assess its transformative potential. Without evidence of fundamental business improvements, this financial engineering measure merely buys time while signaling significant investor risk.
MESA, Ariz., March 27, 2025 (GLOBE NEWSWIRE) -- Nxu, Inc., (NASDAQ: NXU) (“Nxu”, “the Company”), a domestic technology company focused on energy storage and charging solutions for the infrastructure we need to power our electrified future, today announced a planned reverse stock split of its shares of Class A common stock (the “common stock”) at a ratio of 1-for-20. The reverse stock split is expected to take effect as of 12:01 a.m. ET, on Monday, March 31, 2025, and shares of the Company’s Class A common stock are expected to begin trading on a post-split basis on the Nasdaq Capital Market at the market open on March 31, 2025 under the existing trading symbol “NXU”.
Reverse Stock Split Details
At the Company’s special meeting of stockholders held on February 11, 2025, the Company’s stockholders approved amending the Company’s certificate of incorporation to, among other things, effect a reverse stock split of the Company’s issued and outstanding common stock at a ratio of 1-for-5 to 1-for-20, with the final ratio to be determined in the discretion of the Company’s board of directors, which was subsequently set at a ratio of 1-for-20. Following the reverse stock split, the new CUSIP number of the Company’s Class A common stock will be 62956D303, with the par value per share of the Class A common stock remaining at
“The reverse stock split is being implemented as part of our continued efforts to complete our proposed merger with Verde Bioresins and ensure we maintain our NASDAQ compliance,” said Nxu Founder, Chairman, and CEO Mark Hanchett. “We also believe that the increased market price of the Class A common stock that is expected as a result of the reverse stock split could improve the marketability of the Company’s shares.”
When the reverse stock split becomes effective, every 20 shares of the Company’s issued and outstanding Class A common stock will be combined into one share of Class A common stock. The reverse stock split will affect all stockholders uniformly and will not alter any stockholder’s percentage interest in the Company’s equity, except to the extent that the reverse stock split results in some stockholders owning a fractional share. No fractional shares will be issued in the reverse stock split. Any fractional shares resulting from the reverse stock split will be rounded up to the nearest whole share of Class A common stock. The reverse stock split will not change the number of authorized shares of the Class A common stock.
The Company’s transfer agent, Equiniti Trust Company, LLC, is acting as the exchange agent for the reverse stock split. Stockholders holding their shares in book-entry form or in brokerage accounts need not take any action in connection with the reverse stock split. Beneficial holders are encouraged to contact their bank, broker or custodian with any procedural questions.
About Nxu, Inc.
Nxu, Inc. is a domestic technology company leveraging its intellectual property and innovations to support e-Mobility and energy storage solutions. For more information, visit www.nxuenergy.com.
Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can typically be identified by such words as “aim”, “anticipate,” “believe,” “continue,” “could,” “estimate,” “evolve,” “expect,” “forecast,” “intend,” “looking ahead,” “may,” “opinion,” “plan,” “possible,” “potential,” “project,” “should,” “will,” and variations of such words and other similar expressions.
These forward-looking statements include the expectation that the reverse stock split will enable Nxu to meet Nasdaq’s minimum bid price requirements and other listing requirements and the expectation that the price of Nxu’s Class A common stock will increase as a result of the reverse stock split. These forward-looking statements are only predictions based on current expectations and assumptions and are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. There are important factors that could cause actual results to differ materially from the results expressed or implied by forward-looking statements, including the risk factors set forth under “Risk Factors” in Nxu’s annual report on Form 10-K for the year ended December 31, 2024 and in subsequent reports filed by Nxu with the Securities and Exchange Commission, and any of the following: risks related to the reduction in the number of outstanding shares following the reverse stock split, and uncertainties regarding the total market value of Nxu’s common stock following the reverse stock split.
All forward-looking statements are qualified by, and should be considered in conjunction with, these cautionary statements. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date on which such statements are made. Except as required by applicable law, neither Nxu nor Verde undertakes any obligation to update forward-looking statements to reflect events or circumstances arising after such date.
CONTACT:
Nxu, Inc.
info@nxuenergy.com
FAQ
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