Nxu Inc. announces progress towards closing merger with Verde Bioresins

Nxu announced it is progressing towards closing its merger with Verde Bioresins. On February 11, 2025, approximately 99% of the votes cast by Nxu‘s shareholders approved the issuance of shares of Nxu common stock in connection with and change of control resulting from the contemplated merger, and both Nxu and Verde have been through remaining closing items. Completion of the merger is subject to satisfaction of conditions, including Nasdaq approval. “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.”