Nxu, Inc.

Nxu, Inc. announced shareholder approval of its merger with Verde Bioresins, Inc. Verde stockholders will own about 95% of the combined company. The transaction values Verde at approximately $306.9 million enterprise value.

Nxu, Inc. has entered into a merger agreement to acquire all outstanding shares of Verde Bioresins, Inc. in an all-stock transaction. The combined company will be renamed Verde Bioresins, Corp. and list on Nasdaq under the ticker VRDE.