Nxu, Inc. (NXUR): Nasdaq/NYSE listing notice — Nxu receives Nasdaq notice for failure to hold annual meeting, faces additional delisting basis

Nxu, Inc.

Nasdaq notified Nxu on Jan 9, 2024 of failure to hold annual meeting within 12 months of FY2022 end, violating Rule 5620(a).
This adds a new delisting basis; previously Nxu had exception through Apr 7, 2024 for bid price and equity requirements.
Nxu believes it has regained compliance with bid price and equity rules, but the annual meeting issue is separate.
Company must present views to Panel by Jan 16, 2024; intends to argue it believed it was newly listed after May 2023 reorganization.
No assurance the Panel will grant continued listing or additional extension.

item 3.01

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

Nxu, Inc. received a nasdaq deficiency notice notice regarding shareholders (rules 5620(a)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: shareholders
Rules: 5620(a)

Exact text from the filing

January 9, 2024, the Listing Qualifications Department (the “Staff”) of Nasdaq notified the Company that it failed to hold an annual meeting of shareholders within twelve months of the end of the Company’s fiscal year ended December 31, 2022, which was required to be held pursuant to Nasdaq Listing Rule 5620(a). Following the Staff’s delisting determination letter dated October 10, 2023, and in accordance with Nasdaq Listing Rule 5810(c)(2)(A), the Staff cannot consider a plan to regain compliance with Nasdaq Listing Rule 5620(a) since the Company appealed a previous delisting determination. A

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Nxu, Inc. filing history →

Source: SEC EDGAR

accession 0001214659-24-000715

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