Shareholder-Approved Merger with Verde Bioresins, Inc. Progressing Towards Close
Nxu Inc (NASDAQ: NXU) is advancing towards finalizing its merger with Verde Bioresins, following a significant shareholder approval where approximately 99% of votes supported the stock issuance and change of control on February 11, 2025. The merger completion now awaits Nasdaq approval among other conditions.
The company has recently completed a reverse stock split, which CEO Mark Hanchett identified as a important step for positioning the combined entity for success. Verde's President Brian Gordon highlighted their recent partnership with Happy Campers, a gluten-free organic baked goods company, as evidence of continued customer adoption. The merger aims to provide Verde access to public markets to potentially accelerate their scaling capabilities.
Nxu Inc (NASDAQ: NXU) sta procedendo verso la finalizzazione della sua fusione con Verde Bioresins, dopo un'importante approvazione da parte degli azionisti, in cui circa il 99% dei voti ha sostenuto l'emissione di azioni e il cambio di controllo l'11 febbraio 2025. Il completamento della fusione ora attende l'approvazione del Nasdaq e altre condizioni.
L'azienda ha recentemente completato uno split azionario inverso, che il CEO Mark Hanchett ha identificato come un passo importante per posizionare l'entità combinata per il successo. Il presidente di Verde, Brian Gordon, ha evidenziato la loro recente partnership con Happy Campers, un'azienda di prodotti da forno organici senza glutine, come prova dell'adozione continua da parte dei clienti. La fusione mira a fornire a Verde l'accesso ai mercati pubblici per potenzialmente accelerare le loro capacità di crescita.
Nxu Inc (NASDAQ: NXU) está avanzando hacia la finalización de su fusión con Verde Bioresins, tras una importante aprobación de los accionistas en la que aproximadamente el 99% de los votos apoyó la emisión de acciones y el cambio de control el 11 de febrero de 2025. La finalización de la fusión ahora espera la aprobación de Nasdaq entre otras condiciones.
La compañía ha completado recientemente un split de acciones inverso, que el CEO Mark Hanchett identificó como un paso importante para posicionar a la entidad combinada para el éxito. El presidente de Verde, Brian Gordon, destacó su reciente asociación con Happy Campers, una empresa de productos horneados orgánicos sin gluten, como evidencia de la continua adopción por parte de los clientes. La fusión tiene como objetivo proporcionar a Verde acceso a los mercados públicos para potencialmente acelerar sus capacidades de escalado.
Nxu Inc (NASDAQ: NXU)는 Verde Bioresins와의 합병을 최종화하기 위해 나아가고 있으며, 약 99%의 주주가 주식 발행 및 지배권 변경을 지지한 중요한 주주 승인 이후입니다. 합병 완료는 이제 Nasdaq 승인을 포함한 기타 조건을 기다리고 있습니다.
회사는 최근 역주식 분할을 완료했으며, CEO Mark Hanchett는 이를 결합된 실체의 성공을 위한 중요한 단계로 확인했습니다. Verde의 회장 Brian Gordon은 최근 글루텐 프리 유기농 제과 회사인 Happy Campers와의 파트너십을 고객 채택의 지속적인 증거로 강조했습니다. 이번 합병은 Verde가 공공 시장에 접근할 수 있도록 하여 잠재적으로 확장 능력을 가속화하는 것을 목표로 하고 있습니다.
Nxu Inc (NASDAQ: NXU) avance vers la finalisation de sa fusion avec Verde Bioresins, suite à une approbation significative des actionnaires où environ 99 % des votes ont soutenu l'émission d'actions et le changement de contrôle le 11 février 2025. L'achèvement de la fusion attend désormais l'approbation de Nasdaq parmi d'autres conditions.
L'entreprise a récemment effectué un regroupement d'actions, que le PDG Mark Hanchett a identifié comme une étape importante pour positionner l'entité combinée pour le succès. Le président de Verde, Brian Gordon, a souligné leur récente partenariat avec Happy Campers, une entreprise de produits de boulangerie biologiques sans gluten, comme preuve de l'adoption continue par les clients. La fusion vise à fournir à Verde un accès aux marchés publics pour potentiellement accélérer ses capacités de mise à l'échelle.
Nxu Inc (NASDAQ: NXU) arbeitet daran, die Fusion mit Verde Bioresins abzuschließen, nachdem eine bedeutende Zustimmung der Aktionäre erfolgt ist, bei der etwa 99% der Stimmen die Aktienausgabe und den Kontrollwechsel am 11. Februar 2025 unterstützt haben. Der Abschluss der Fusion steht nun unter dem Vorbehalt der Genehmigung durch die Nasdaq und weiterer Bedingungen.
Das Unternehmen hat kürzlich einen Aktiensplit durchgeführt, den CEO Mark Hanchett als wichtigen Schritt zur Positionierung der kombinierten Einheit für den Erfolg identifiziert hat. Der Präsident von Verde, Brian Gordon, hob ihre kürzliche Partnerschaft mit Happy Campers, einem glutenfreien Bio-Backwarenunternehmen, als Beweis für die fortwährende Kundenakzeptanz hervor. Die Fusion zielt darauf ab, Verde den Zugang zu den öffentlichen Märkten zu ermöglichen, um möglicherweise ihre Skalierungsfähigkeiten zu beschleunigen.
- 99% shareholder approval for the merger indicates strong investor support
- Recent partnership with Happy Campers demonstrates Verde's continued business growth
- Completed reverse stock split positions the combined company for Nasdaq compliance
- Merger completion still pending Nasdaq approval and other conditions
- Reverse stock split indicates potential share price/market cap issues
Nxu continues to work towards imminent completion of merger with Verde Bioresins, Inc.
MESA, Ariz., April 08, 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 it is progressing towards closing its merger with Verde Bioresins, Inc. (“Verde”). On February 11, 2025, approximately
“We have been working through the necessary technicalities closely with both Verde and Nasdaq’s listing department, and we intend to close very soon,” said Mark Hanchett, Chairman and CEO at Nxu. “Completing the recent reverse stock split was a key open item required to position the combined company for success upon close.”
Verde’s President Brian Gordon added, “We are in the final innings of this transaction and eager to complete the merger. We continue to experience customer adoption, evident in our recently announced partnership with Happy Campers, a leader in gluten-free organic baked goods. The completion of the merger will provide us with access to the public markets, which will potentially allow us to scale our company at a pace not previously available to us.”
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.
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements that express the Company's intentions, beliefs, expectations, strategies, predictions or any other statements related to the Company's future activities, or future events or conditions, including those related to future compliance with the Nasdaq’s listing requirements, the ability to satisfy the conditions to closing the contemplated merger with Verde, and the consummation such contemplated merger with Verde, which can be identified by terminology such as "may," "will," "expects," "anticipates," "aims," "potential," "future," "intends," "plans," "believes," "estimates," "continue," "likely to" and other similar expressions intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These statements are not historical facts and are based on current expectations, estimates and projections about the Company's business based, in part, on assumptions made by its management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict, many of which are beyond the Company's control, including, among other things, the risks related to the Company's ability to regain and maintain compliance with Nasdaq listing standards, the Company's ability to obtain any compliance period, the Company's ability to take actions that may be required for its continued listing on Nasdaq, and other risks that may be included in the periodic reports and other filings that the Company files from time to time with the SEC. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in the forward-looking statements. 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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