Summary by Futu AI
Nxu Inc. has reported a potential delisting risk from the NASDAQ stock market due to non-compliance with certain listing requirements. The company was previously granted an exception by the Nasdaq Hearings Panel until April 7, 2024, to meet the minimum bid price and stockholders' equity requirements. Nxu Inc. believes it has regained compliance with these requirements as of the date of the report. However, on January 9, 2024, Nxu Inc. was notified by NASDAQ's Listing Qualifications Department of its failure to hold an annual shareholder meeting within the required timeframe, following the fiscal year ended December 31, 2022. This failure constitutes an additional basis for delisting. Nxu Inc. plans to present its views and a plan to hold an annual meeting expeditiously if an...Show More