Nxu has filed an S-4 registration statement with the SEC for its proposed merger with Verde Bioresins, a sustainable bioplastics producer. The all-stock transaction values Verde at approximately $306.9 million and Nxu at $16.2 million, with pre-merger Verde stockholders set to own 95% of the combined company.Upon completion, the merged entity will be renamed Verde Bioresins Corp. and trade on Nasdaq under the ticker "VRDE". The transaction is expected to close in Q1 2025, subject to shareholder approvals from both companies, SEC registration effectiveness, and Nasdaq listing approval.The merger aims to combine Verde's sustainable bioplastics technology with Nxu's infrastructure, targeting markets including food service, consumer goods, automotive, and agricultural packaging. The deal's completion remains subject to customary closing conditions and regulatory clearances.

Nxu has filed an S-4 registration statement with the SEC for its proposed merger with Verde Bioresins, a sustainable bioplastics producer. The all-stock transaction values Verde at approximately $306.9 million and Nxu at $16.2 million, with pre-merger Verde stockholders set to own 95% of the combined company.Upon completion, the merged entity will be renamed Verde Bioresins Corp. and trade on Nasdaq under the ticker "VRDE". The transaction is expected to close in Q1 2025, subject to shareholder approvals from both companies, SEC registration effectiveness, and Nasdaq listing approval.The merger aims to combine Verde's sustainable bioplastics technology with Nxu's infrastructure, targeting markets including food service, consumer goods, automotive, and agricultural packaging. The deal's completion remains subject to customary closing conditions and regulatory clearances.