Nxu Proposes Merger with Verde Bioresins

Nxu ( (NXU) ) has provided an announcement.

Nxu, Inc. has announced a proposed merger with Verde Bioresins, Inc., which will see Nxu acquire Verde in an all-stock transaction, aiming to create significant long-term value. Upon completion, expected in Q1 2025, the combined entity will be named Verde Bioresins Corp. and listed on Nasdaq under the ticker ‘VRDE’. The merger process involves regulatory approvals and shareholder consents, with pre-merger Verde stockholders expected to own 95% of the new company.

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