Nxu, Inc (NASDAQ: NXU), a prominent domestic technology firm specializing in cutting-edge EV charging and energy storage solutions crucial for the forthcoming era of electrification, revealed today the pricing details of its public offering. The Company disclosed that it will issue 86,000,000 shares of Class A common stock at a public offering price of $0.035 per share.
Anticipated proceeds from the offering, prior to deductions for placement agent fees, commissions, and additional offering expenses, are projected to amount to approximately $3.0 million. Following this significant announcement, the stock of Nxu experienced a decline in market activity.
At the time of this publication, NXU Inc. stock (NXU) has witnessed a decline.
NXU Inc.
Current Price: $0.04
Change : -0.03
Change (%): (-39.86%)
Volume: 158.1M
Source: Tomorrow Events Market Data
The offering is slated to conclude on or about October 23, 2023, subject to the fulfillment of customary closing conditions. Maxim Group LLC has assumed the role of the exclusive placement agent overseeing the offering.
This undertaking is being executed in accordance with the Company’s registration statement on Form S-1, as amended (File No. 333-274910), which was previously submitted to and subsequently approved by the Securities and Exchange Commission (“SEC”) on October 19, 2023. A conclusive prospectus concerning the offering is slated for submission to the SEC and will be accessible on the Commission’s official website.
Nxu, Inc. stands at the forefront of technological innovation in the realm of electric vehicle infrastructure. The Company’s commitment to developing and manufacturing forward-thinking EV charging and energy storage solutions underscores their pivotal role in shaping the future of electrification. This public offering is a significant stride towards bolstering the Company’s endeavors in this critical sector.
In conclusion, the successful pricing of its public offering by Nxu underscores the growing demand for innovative EV charging and energy storage solutions in the electrified future.
