Nxu receives compliance confirmation from Nasdaq

Nxu announced that on February 13, the Nasdaq Stock Market confirmed that the Company has sufficiently demonstrated compliance with the bid price requirement in Nasdaq Listing Rule 5550 and regained compliance with the equity requirement in Nasdaq Listing Rule 5550 pursuant to the Nasdaq Hearing Panel decision dated Dec. 18, 2023. Nxu presented its compliance plan to the Panel on Dec. 14, 2023, and the Panel gave the Company until April 7, 2024, to demonstrate compliance with the Bid Price Rule and Equity Rule. “The plan we presented to Nasdaq in December was thorough and decisive,” said Mark Hanchett, Chairman and CEO at Nxu. “Our dedication to timely executing that plan is obvious, as Nasdaq has acknowledged both bid price and equity compliance. We look forward to working with Nasdaq to remain in compliance for the foreseeable future.”