There are important factors that could cause actual results to differ materially from the results expressed or implied by forward-looking statements, including the risk factors set forth under "Risk Factors” in Nxu’s annual report on Form 10-K for the year ended December 31, 2024 and in subsequent reports filed by Nxu with the Securities and Exchange Commission, and any of the following: risks related to the reduction in the number of outstanding shares following the reverse stock split, and uncertainties regarding the total market value of Nxu’s common stock following the reverse stock split.
MESA, Ariz., March 27, 2025 (GLOBE NEWSWIRE) -- Nxu, Inc., (NASDAQ: NXU) ("Nxu”, "the Company”), a domestic technology company focused on energy storage and charging solutions for the infrastructure we need to power our electrified future, today announced a planned reverse stock split of its shares of Class A common stock (the "common stock”) at a ratio of 1-for-20.
"We also believe that the increased market price of the Class A common stock that is expected as a result of the reverse stock split could improve the marketability of the Company’s shares.” When the reverse stock split becomes effective, every 20 shares of the Company’s issued and outstanding Class A common stock will be combined into one share of Class A common stock.
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