Nxu Inc has entered into a Securities Purchase Agreement on December 26, 2024, raising approximately $3 million through a private placement. The offering includes 6.8 million shares of Class A Common Stock, pre-funded warrants for 5.2 million shares, Series A warrants for 6 million shares, and Series B warrants with variable share amounts.The Series A Warrants have an initial exercise price of $0.50, while Pre-Funded and Series B Warrants have a $0.0001 exercise price. The warrants contain reset provisions that could significantly increase the number of exercisable shares after the Reset Date. Exercise is subject to stockholder approval and beneficial ownership limitations of 4.99% (or 9.99% for certain holders).The company will pay Maxim Group LLC a 7% placement fee and up to $50,000 in expenses. The agreement includes registration rights requiring Nxu to file a registration statement within 30 days and achieve effectiveness within 50-70 days. Company executives and directors have agreed to a 30-day lock-up period.

Nxu Inc has entered into a Securities Purchase Agreement on December 26, 2024, raising approximately $3 million through a private placement. The offering includes 6.8 million shares of Class A Common Stock, pre-funded warrants for 5.2 million shares, Series A warrants for 6 million shares, and Series B warrants with variable share amounts.The Series A Warrants have an initial exercise price of $0.50, while Pre-Funded and Series B Warrants have a $0.0001 exercise price. The warrants contain reset provisions that could significantly increase the number of exercisable shares after the Reset Date. Exercise is subject to stockholder approval and beneficial ownership limitations of 4.99% (or 9.99% for certain holders).The company will pay Maxim Group LLC a 7% placement fee and up to $50,000 in expenses. The agreement includes registration rights requiring Nxu to file a registration statement within 30 days and achieve effectiveness within 50-70 days. Company executives and directors have agreed to a 30-day lock-up period.