Nxu to merge with Verde Bioresins; Verde stockholders to own ~95% post-merger

Nxu, Inc.

Nxu enterprise value ~$16.2M; Verde ~$306.9M; Verde stockholders ~95% post-merger.
Current Nxu directors (except Jessica Billingsley) resign; new board with six Verde, one Nxu appointee.
Post-merger company renamed Verde Bioresins, Corp.; ticker to change to VRDE.
Sarah Wyant appointed CFO; exec employment agreements amended with financing bonuses and severance.
Verde must pay Nxu $1M termination fee if Verde stockholders fail to approve merger.

item 1.01 item 5.02 item 7.01 item 8.01 item 9.01

Executive movements

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Appointed

Sarah Wyant

Chief Financial Officer

NXUR · Nxu, Inc.

Effective: 2024-10-23
Filed: October 24, 2024, 7:59 PM ET

The Nxu Board also appointed Sarah Wyant (together with the Executives, the “Nxu Executives”), Nxu’s Interim Chief Financial Officer, to serve as Nxu’s Chief Financial Officer, effective on October 23, 2024.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Sarah Wyant was appointed as Chief Financial Officer at Nxu, Inc..

Action: appointed
Role: Chief Financial Officer

Exact text from the filing

The Nxu Board also appointed Sarah Wyant (together with the Executives, the “Nxu Executives”), Nxu’s Interim Chief Financial Officer, to serve as Nxu’s Chief Financial Officer, effective on October 23, 2024.

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Nxu, Inc. filing history →

Source: SEC EDGAR

accession 0001214659-24-017876

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