Summary by Moomoo AI
Nxu Inc. has filed to register up to 114,503,816 shares of Class A common stock for resale by selling stockholders. The shares include 6.8 million purchased shares and 107.7 million shares issuable upon exercise of warrants issued in a $3 million private placement on December 26, 2024.The company issued pre-funded warrants for 5.2 million shares, Series A warrants for up to 57.25 million shares, and Series B warrants for up to 45.25 million shares. The pre-funded warrants have a $0.0001 exercise price, Series A warrants $0.50, and Series B warrants $0.0001. Nxu will not receive proceeds from the resale but may receive proceeds if warrants are exercised.The filing also discloses Nxu's pending merger with Verde Bioresins, where Verde shareholders would own 95% of the combined company. Nxu had $2.2 million cash as of September 30, 2024 and warns of substantial doubt about its ability to continue as a going concern without additional funding.
