Atlis Motor Vehicles closes $13M public offering of 8.3M units at $1.56/unit

Nxu, Inc.

Offering of 8,334,000 units closed Feb 21, 2023; each unit includes 1 share (or pre-funded warrant), 0.65 Series A warrants, and 0.75 Series B warrants.
Gross proceeds ~$13M; net proceeds for general corporate purposes and potential prepayment of up to 40% of outstanding convertible notes.
Series A warrants exercisable immediately at $1.56, expire in 5 years; Series B warrants exercisable after corporate reorganization or stockholder approval.
Maxim Group LLC acted as sole placement agent, receiving 7% fee plus $100,000 expense reimbursement.

item 1.01 item 2.04 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Nxu, Inc. entered into Purchase Agreement with certain investors named therein (effective 2023-02-15).

Action: entry
Agreement: equity purchase
Counterparty: certain investors named therein
Effective: 2023-02-15

Exact text from the filing

On February 15, 2023, the Company entered into a securities purchase agreement (the “Purchase Agreement”) with certain investors named therein (the “Purchasers")

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Nxu, Inc. entered into Warrant Agency Agreement with American Stock Transfer & Trust Company, LLC (effective 2023-02-21).

Action: entry
Counterparty: American Stock Transfer & Trust Company, LLC
Effective: 2023-02-21

Exact text from the filing

On February 21, 2023, the Company entered into a warrant agency agreement with the Company’s transfer agent, American Stock Transfer & Trust Company , LLC, who is also acting as the warrant agent for the Company, setting forth the terms and conditions of the Warrants and any Pre-Funded Warrants sold in the Offering (the “Warrant Agency Agreement”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Nxu, Inc. entered into Placement Agency Agreement with Maxim Group LLC (effective 2023-02-15).

Action: entry
Agreement: underwriting
Counterparty: Maxim Group LLC
Effective: 2023-02-15

Exact text from the filing

In connection with the Offering, on February 15, 2023, the Company entered into a securities purchase agreement (the “Purchase Agreement”) with certain investors named therein (the “Purchasers”), and a placement agency agreement (the “Placement Agency Agreement”) with Maxim Group LLC (the “Placement Agent")

View on SEC.gov

281 material agreements filed in the last 30 days. Browse all material agreements →

Nxu, Inc. filing history →

Source: SEC EDGAR

accession 0001214659-23-002832

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