Summary by Futu AI
Nxu Inc., a Delaware-based technology company specializing in battery cells and packs for energy storage and electric vehicles, has filed a Form S-3 registration statement with the Securities and Exchange Commission (SEC) on January 19, 2024. The filing pertains to the registration of up to 1,000,000 shares of Class A common stock, which may be sold by Lynks Motor Corporation, the selling stockholder. These shares are issuable upon the conversion of Series A Preferred Stock, according to the Share Exchange Agreement dated December 27, 2023. Nxu Inc. will not receive any proceeds from the sale of the shares, as all proceeds will go to the selling stockholder. The shares will be offered from time to time through various methods, including ordinary brokerage transactions, block trades, and private negotiations. The registration statement also includes a prospectus detailing Nxu Inc.'s business, financial statements, and the risks associated with investing in the company. Nxu Inc. is listed on the Nasdaq Stock Market under the symbol 'NXU'.