Summary by Futu AI
Nxu Inc., a Delaware-based technology company, has filed a post-effective amendment with the U.S. Securities and Exchange Commission (SEC) on January 29, 2024, to update its registration statement. The amendment relates to the Registration Statement on Form S-1 initially declared effective by the SEC on February 9, 2023, and subsequently amended on August 23, 2023. This amendment is to register up to 19,734 shares of Class A common stock for sale by selling stockholders, which may be issued upon the exercise of warrants. The offering is ongoing, with the shares to be sold on a continuous basis pursuant to Rule 415 under the Securities Act. Nxu Inc. has also conducted a 1-for-150 reverse stock split, effective December 26, 2023. The company's shares are listed on the Nasdaq Stock Market under the symbol 'NXU.' The selling stockholders will receive all proceeds from the sale of shares, and Nxu Inc. will not receive any proceeds from this offering. The company is an emerging growth company and has elected to comply with certain reduced reporting requirements.