secwatch.observer — SEC 8-K summary
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Issuer:     Nxu, Inc. (NXUR)
CIK:        0001722969
Form:       8-K
Filed at:   2023-10-23T23:59:59+00:00
Accession:  0001214659-23-013798
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.04, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Nxu closes $3.0M public offering of 86M shares at $0.035/share
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- Offering of 86,000,000 shares of Class A common stock at $0.035 per share, gross proceeds ~$3.0M.
- Maxim Group LLC acted as sole placement agent; fee of 6.5% of gross proceeds plus $50K expense reimbursement.
- Proceeds to be used for general corporate purposes, including operating expenses and EV charging product development.
- Convertible note holders can require prepayment of up to 20% of gross proceeds; ~$1.3M of notes outstanding.
- Executive officers and directors subject to 30-day lockup on share sales without placement agent consent.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1722969/000121465923013798/0001214659-23-013798-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1722969/000121465923013798/b10202338k.htm
  HTML page:      https://secwatch.observer/filing/0001214659-23-013798

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