Nxu prices $5M public offering of units at $0.30 per unit

Nxu, Inc.

Priced public offering of 16,666,667 units at $0.30/unit for gross proceeds of ~$5M.
Each unit consists of one share of Class A common stock (or pre-funded warrant) and one warrant exercisable for two shares at $0.30.
Warrants are immediately exercisable and expire three years from issuance.
Company agreed to amend Series B warrants held by certain investors; they will be exchanged for shares and extinguished at closing.
A.G.P./Alliance Global Partners and Maxim Group LLC acted as placement agents; fees 8% of gross proceeds.

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 Placement Agency Agreement with A.G.P./Alliance Global Partners and Maxim Group LLC valued at 8.0% of the gross proceeds raised in the Offering (effective 2023-08-08).

Action: entry
Agreement: underwriting
Counterparty: A.G.P./Alliance Global Partners and Maxim Group LLC
Value: 8.0% of the gross proceeds raised in the Offering
Effective: 2023-08-08

Exact text from the filing

and a placement agency agreement (the “Placement Agency Agreement”) with A.G.P./Alliance Global Partners and Maxim Group LLC (the “Placement Agents”)

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

Nxu, Inc. entered into Purchase Agreement with certain investors named therein valued at aggregate gross proceeds of approximately $5 million (effective 2023-08-08).

Action: entry
Agreement: equity purchase
Counterparty: certain investors named therein
Value: aggregate gross proceeds of approximately $5 million
Effective: 2023-08-08

Exact text from the filing

on August 8, 2023, the Company entered into a securities purchase agreement (the “Purchase Agreement”) with certain investors named therein (the “Purchasers”)

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Nxu, Inc. filing history →

Source: SEC EDGAR

accession 0001214659-23-011126

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