NXU Holds Special Meeting of Stockholders, Approves Various Proposals

On February 11, 2025, Nxu, Inc. (NASDAQ: NXU), a Delaware corporation, conducted a special meeting of stockholders to address crucial proposals as detailed in their proxy statement/prospectus filed with the Securities and Exchange Commission on January 27, 2025.

The key proposals discussed and voted upon during the Special Meeting were as follows:

1. Approval of the issuance of Nxu’s common stock representing more than 20% of the outstanding shares to Verde Bioresins, Inc.’s stockholders as part of a Merger, along with the change of control resulting from the Merger.

– For: 31,039,384 shares
– Against: 228,297 shares
– Abstain: 5,215 shares

2. Amendment of Nxu’s Certificate of Incorporation to eliminate the dual class stock structure.

– For: 31,147,830 shares
– Against: 106,962 shares
– Abstain: 18,104 shares

3. Proposal for a reverse stock split of Nxu’s Class A common stock.

– For: 31,011,727 shares
– Against: 245,234 shares
– Abstain: 15,935 shares

The various other proposals up to Proposal 10 were similarly reviewed and approved as detailed in the Special Meeting results. These included amendments to the Certificate of Incorporation, board classifications, and the approval of Verde Bioresins, Corp. 2025 Equity Incentive Plan.

Despite the approval of Proposal 11 to adjourn the Special Meeting if necessary, it was not required as all prior proposals had received sufficient votes. Therefore, no adjournment was necessary due to the approval of Proposals 1 through 10.

Mark Hanchett, the Chief Executive Officer of Nxu, Inc., duly signed the report on February 12, 2025, in compliance with the Securities Exchange Act of 1934.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read NXU’s 8K filing here.

NXU Company Profile

Nxu, Inc, formerly known as Atlis Motor Vehicles, is a US-owned technology company manufacturing innovative battery cells and battery packs, for use in advanced energy storage systems and megawatt charging stations.