EX-99.1 2 ex99_1.htm EXHIBIT 99.1 Exhibit 99.1 Press Release FOR RELEASE ON: March 27, 2025 Nxu, Inc. Announces 1-for-20 Reverse Stock Split MESA, Ariz., March 27, 2025 - 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…
Open exhibit ↗Current Report · Items 8.01, 9.01 · 8-K
Nxu, Inc.
NXUROTCEQUITYCurrent
Other Events
Item 8.01 Other Events. On March 27, 2025, Nxu, Inc. (the “Company”) issued a press release announcing that its Board of Directors (the “Board”) approved a reverse stock split of its shares of Class A common stock at a ratio of 1-for-20 (the “Reverse Stock Split”). A copy of the press release is filed herewith as Exhibit 99.1 and is incorporated by reference into this Item 8.01.…
Company context
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.
Current securities
Recent company filings
- SCHEDULE 13G/A - filed by L1 Capital Global Opportunities Master Fund, Ltd. regarding Nxu, Inc.Aug 14, 2025
- 25-NSE - filed by Nasdaq Stock Market LLC regarding Nxu, Inc.Aug 7, 2025
- Termination of a Material Definitive Agreement · Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · Other EventsJun 23, 2025
- Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of ListingJun 16, 2025
- 10-Q filingMay 15, 2025
Disclosure sections
Item 8.01Item 8.01 - Other Events
Item 8.01 Other Events.
On March 27, 2025, Nxu, Inc. (the “Company”)
issued a press release announcing that its Board of Directors (the “Board”) approved a reverse stock split of its shares of
Class A common stock at a ratio of 1-for-20 (the “Reverse Stock Split”). A copy of the press release is filed herewith as
Exhibit 99.1 and is incorporated by reference into this Item 8.01.
The Reverse Stock Split is expected to become
effective on March 31, 2025, at 12:01 a.m. ET (the “Effective Time”), with shares of Class A common stock to begin trading
under the existing trading symbol, “NXU”, on a split-adjusted basis at market open on March 31, 2025. In connection with the
Reverse Stock Split, every 20 shares of the Company’s Class A common stock issued and outstanding as of the Effective Time will
be automatically combined into one share of the Company’s Class A common stock. 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.
As a result of the Reverse Stock Split, proportionate
adjustments will be made to the number of shares of the Company’s Class A common stock underlying the Company’s outstanding
options, warrants, and equity awards, as well as the per-share exercise prices relating thereto as applicable.