Nxu Inc.
0.0110-0.19 (-94.5%)
Oct 29, 4:00:00 PM EDT · OTC Markets OTCPK · NXUR · USD
Key Stats
Market Cap
25.16KP/E (TTM)
-Basic EPS (TTM)
-20.70Dividend Yield
0%Recent Filings
8-K
Merger axed, execs out
Nxu terminated its merger agreement with Verde Bioresins on June 23, 2025, after failing to meet Nasdaq's listing conditions amid ongoing compliance battles, including a recent delisting determination. Key executives Annie Pratt and Sarah Wyant resigned as president and CFO on June 16, followed by director Jessica Billingsley on June 23, with no disagreements cited. The board opted for an orderly wind-down and potential bankruptcy, signaling deep operational distress. No guarantees on execution.
8-K
Nasdaq delisting confirmed for Nxu
Nxu, Inc. faces delisting from Nasdaq after a panel rejected its appeal on June 10, 2025, due to failure to sustain the $1.00 minimum bid price despite a 1-for-20 reverse stock split effective March 31, 2025. Trading has been suspended since April 10, 2025, with the company opting not to appeal further to the Nasdaq Listing and Review Council. Post-delisting, shareholders may struggle to sell shares amid a limited market. Delisting erodes liquidity.
10-Q
Q1 FY2025 results
Nxu's Q1 FY2025 revenue dipped to $1 thousand from $4 thousand y/y, reflecting paused operations amid its pending merger with Verde Bioresins, while gross loss widened slightly to $21 thousand on higher depreciation. Operating loss narrowed sharply to $2.6 million from $6.6 million y/y, driven by slashed R&D to zero and G&A down 59% to $2.5 million after headcount cuts and lower stock-based comp. Net loss improved to $2.5 million ($1.35/share) from $6.5 million ($18.25/share), with EPS aligning to 1.8 million diluted shares; no material non-GAAP metrics disclosed in the 10-Q. Cash burned $1.7 million in operations, ending at $0.9 million with no debt, but the proposed October 2024 merger—ascribing Verde $306.9 million enterprise value and Nxu ~$16.2 million—remains hung up on Nasdaq listing approval post-delisting. Assets held for sale linger at $0.7 million fair value. Merger delays pose the biggest hurdle.
8-K
Nxu faces Nasdaq delisting
Nxu's Class A common stock faces suspension from Nasdaq trading starting April 10, 2025, after failing to meet the $1.00 minimum bid price requirement despite a 1-for-20 reverse stock split effective March 31. The company appealed the delisting notice on April 7 and plans to present a compliance strategy to Nasdaq's Hearing Panel, though recent trading above $1.00 offers no guarantees. Delisting risks reduced liquidity and investor access.
8-K
Nxu enacts 1-for-20 reverse split
Nxu, Inc. filed an amendment to its Certificate of Incorporation on March 28, 2025, authorizing a 1-for-20 reverse stock split of its Class A common stock, effective March 31, 2025, at 12:01 a.m. ET. Trading resumes that morning on NASDAQ under 'NXU' with new CUSIP 62956D303, while authorized shares stay unchanged and fractions round up to whole shares. Adjustments hit options and warrants proportionally. This move, greenlit by shareholders on February 11 and board on March 12, aims to meet exchange rules without diluting ownership.
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