CORRECTION – Atlis Motor Vehicles Shareholders Approve Reorganization to Holding Company, Nxu, Inc., and Omnibus Incentive Plan
12 Maio 2023 - 2:59PM
In a release issued from Atlis Motor Vehicles, Inc. (NASDAQ:
AMV), on May 11, 2023 under the same headline, please note
that in the fourth paragraph the date for the new ticker symbol to
become effective was at the closing of the Nasdaq market
on May 12, 2023. The symbol will become effective at the opening of
the Nasdaq market on May 15, 2023. The corrected release
follows:
Atlis Motor Vehicles, Inc. (NASDAQ: AMV), a
US-owned technology company manufacturing innovative battery cells
and battery packs for use in advanced energy storage systems,
megawatt charging stations, and mobility products, today announced
shareholder approval of the company reorganization to a holding
company structure with Nxu, Inc. (pronounced: “new”) as the
surviving publicly traded entity (the “Holding Company Proposal”).
A proposed Omnibus Incentive plan was also approved by the
shareholders (the “Plan Proposal”).
At a special meeting for shareholders held on
May 9, 2023, 99.86% of voting shares were in favor of the Holding
Company Proposal to restructure the company, resulting in Atlis
Motor Vehicles becoming a subsidiary of a new Delaware corporation
named “Nxu, Inc.” Shareholders voted 99.77% of voting shares in
approval of the Plan Proposal, which promotes ownership in Nxu,
Inc. by its employees, directors, and consultants by allowing them
to receive compensation in the form of awards based on the value of
Nxu common stock. The Plan Proposal was previously approved and
recommended by Nxu’s Board of Directors.
“We’re thrilled to have the support of our
shareholders throughout this evolution of our company,” says Nxu
CEO and Founder Mark Hanchett. “This restructuring demonstrates our
commitment to generate maximum value for customers and
shareholders. By offering the stock compensation plan, we intend to
attract top talent – those with innovative mind who will help us
deliver against our milestones and develop technology that makes
electrification viable for mobility and infrastructure.”
The special shareholder meeting comes just three
weeks after the company announced its rebranding to Nxu, a move
that more closely aligns with the company’s focus on developing
technology to make electrification viable for mobility and
infrastructure. The new ticker symbol "NXU" will become effective
upon the opening of the Nasdaq market on May 15, 2023. Outstanding
stock certificates will not be affected by the name change and will
not need to be exchanged. All stock trading, filings and
market-related information will be reported under the new corporate
name and ticker symbol. For more information, visit the Nxu
Investor’s FAQ page: https://nxuenergy.com/investors/faq.
About Nxu, Inc.
Nxu, Inc. is a vertically integrated technology
company leveraging its intellectual properties and
U.S.-manufactured battery innovations to support e-Mobility and
energy storage solutions.
The Nxu Ecosystem will consist of industry
leading Battery Cell and Pack technologies, Grid Level Energy
Storage Solutions, Charging Infrastructure, Platform and
Medium-Duty Electric Mobility Solutions, and Over-Air Cloud
Management – all wrapped in Nxu’s seamless subscription-based
models. For more information, visit www.nxuenergy.com.
Forward-Looking Safe Harbor Statement
This communication includes "forward-looking
statements" within the meaning of the "safe harbor" provisions of
the United States Private Securities Litigation Reform Act of 1995.
Forward-looking statements may be identified by the use of words
such as "estimate," "plan," "project," "forecast," "intend,"
"will," "shall," "expect," "anticipate," "believe," "seek,"
"target," "continue," "could," "may," "might," "possible,"
"potential," "predict" or other similar expressions that predict or
indicate future events or trends or that are not statements of
historical matters. These forward-looking statements include, but
are not limited to, statements regarding the offering, sale of
securities, our ability to complete the offering and our intended
use of proceeds. These statements are based on various assumptions,
whether or not identified in this communication, and on the current
expectations of management. These forward-looking statements are
not intended to serve as and must not be relied on by any investor
as, a guarantee, an assurance, or a definitive statement of fact or
probability. Actual events and circumstances are difficult or
impossible to predict and may differ from these forward-looking
statements. Many actual events and circumstances are beyond the
control of Nxu and Nxu management. These forward-looking statements
are subject to a number of risks and uncertainties, including all
of the risk factors stated under the heading “Risk Factors” in the
most recently filed Registration Statement, as well as other
documents Nxu has filed or will file with the Securities and
Exchange Commission. If any of these risks materialize or Nxu’s
assumptions prove incorrect, actual results could differ materially
from the results implied by these forward-looking statements. There
may be additional risks of which Nxu does not currently know or
that Nxu currently believes are immaterial that could also cause
actual results to differ from those contained in the
forward-looking statements. In addition, forward-looking statements
reflect Nxu’s expectations, plans or forecasts of future events and
views as of the date of this communication. Nxu anticipates that
subsequent events and developments will cause Nxu’s assessments to
change. However, while Nxu may elect to update these
forward-looking statements at some point in the future, Nxu
specifically disclaims any obligation to do so. These
forward-looking statements should not be relied upon as
representing Nxu's assessments as of any date subsequent to the
date of this communication. Accordingly, undue reliance should not
be placed upon the forward-looking statements.
CONTACT:Mary TroutNxu,
Inc.info@nxuenergy.com
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