Nxu Inc. has entered into a Securities Purchase Agreement to raise approximately $3 million through a private placement of shares and warrants. The company will issue 6.8 million shares of Class A Common Stock, pre-funded warrants for 5.2 million shares, Series A warrants for up to 6 million shares, and Series B warrants for a to-be-determined number of shares.The Series A warrants have an initial exercise price of $0.50 per share, subject to potential downward adjustment. The number of shares issuable under the Series B warrants will be determined based on a reset price calculation. Both warrant series contain provisions that could significantly increase the number of shares issuable upon exercise.In connection with the offering, Nxu entered into a Registration Rights Agreement to register the resale of the shares and warrant shares, and obtained voting agreements from key insiders to support shareholder approval for the warrant exercises. The company also agreed to lock-up provisions for its executive officers and directors.

Nxu Inc. has entered into a Securities Purchase Agreement to raise approximately $3 million through a private placement of shares and warrants. The company will issue 6.8 million shares of Class A Common Stock, pre-funded warrants for 5.2 million shares, Series A warrants for up to 6 million shares, and Series B warrants for a to-be-determined number of shares.The Series A warrants have an initial exercise price of $0.50 per share, subject to potential downward adjustment. The number of shares issuable under the Series B warrants will be determined based on a reset price calculation. Both warrant series contain provisions that could significantly increase the number of shares issuable upon exercise.In connection with the offering, Nxu entered into a Registration Rights Agreement to register the resale of the shares and warrant shares, and obtained voting agreements from key insiders to support shareholder approval for the warrant exercises. The company also agreed to lock-up provisions for its executive officers and directors.