Nxu, Inc. has scheduled a Special Meeting for its stockholders to vote on a series of proposals concerning its merger with Verde Bioresins, Inc. The date and time of the virtual meeting are yet to be determined. The merger agreement identifies Verde as the accounting acquirer, and if the merger proceeds, Nxu stockholders will retain approximately 5% ownership in the new entity, with Verde stockholders owning the remaining 95%. The board of directors post-merger will have a majority of members appointed by Verde shareholders, and Verde's current senior management will predominantly form the executive team. The combined company's stock is expected to trade on the Nasdaq CM under the ticker 'VRDE'. Nxu's board has unanimously recommended that stockholders...Show More

Nxu, Inc. has scheduled a Special Meeting for its stockholders to vote on a series of proposals concerning its merger with Verde Bioresins, Inc. The date and time of the virtual meeting are yet to be determined. The merger agreement identifies Verde as the accounting acquirer, and if the merger proceeds, Nxu stockholders will retain approximately 5% ownership in the new entity, with Verde stockholders owning the remaining 95%. The board of directors post-merger will have a majority of members appointed by Verde shareholders, and Verde's current senior management will predominantly form the executive team. The combined company's stock is expected to trade on the Nasdaq CM under the ticker 'VRDE'. Nxu's board has unanimously recommended that stockholders vote in favor of all proposals. The merger aims to be a tax-qualified reorganization. If the merger does not proceed, Nxu may consider remaining independent, seeking other transactions, or dissolution. Stockholders have the option to vote by telephone, Internet, or mail and can change their vote before the meeting. Nxu has engaged D.F. King to assist with proxy solicitation, the costs of which will be borne by Nxu. Stockholders seeking more information or additional materials can reach out to Nxu directly.