false
0001722969
0001722969
2023-12-04
2023-12-04
iso4217:USD
xbrli:shares
iso4217:USD
xbrli:shares
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
Date of Report (Date of earliest event reported):
December 4, 2023
Nxu, Inc. |
(Exact Name of Registrant as Specified in Charter) |
Delaware |
|
001-41509 |
|
92-2819012 |
(State or Other Jurisdiction
of Incorporation |
|
(Commission
File Number) |
|
(IRS Employer
Identification No.) |
1828
N. Higley Rd. Ste 116, Mesa,
AZ 85205 |
(Address of Principal Executive Offices) (Zip Code) |
Registrant’s telephone number, including
area code: (602) 309-5425
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):
¨ Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each Class |
Trading
Symbol(s) |
Name of each exchange on which
registered |
Class A Common Stock, par value $0.0001 per share |
NXU |
NASDAQ |
Indicate by checkmark whether the registrant is
an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) of Rule 12B-2 of the Securities
Exchange act of 1934 (§240.12b-2 of this chapter).
Emerging Growth Company x
If an emerging growth company, indicate by check
mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act.
Item 5.02. Departure
Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On
December 4, 2023 Nxu, Inc. (the “Company”) received a notice of resignation from its Chief Financial Officer, Apoorv Dwivedi,
effective January 12, 2024. Mr. Dwivedi resigned to pursue other employment opportunities, and there were no material disagreements between
Mr. Dwivedi and the Company at the time of his resignation. His departure is not related to the operations, policies, or practices, including
accounting principles and practices, of the Company.
The
Board of Directors of the Company intends to conduct a search of potential candidates to replace Mr. Dwivedi. In the interim, the Company’s
Vice President of Finance, Sarah Wyant, will be named Interim Chief Financial Officer and will assume the duties as the principal financial
officer and principal accounting officer for the Company. Ms. Wyant, 39, has served as the Company’s Vice President of Finance since
May 2023. Prior to joining the Company, Ms. Wyant served as Associate Director of Financial Planning & Analysis of Carvana Co. from
January 2021 to November 2022, after having served as its Head of Corporate Accounting from May 2016 to January 2021.
There
are no arrangements or understandings between Ms. Wyant and any other persons pursuant to which she will become the Company’s Interim Chief Financial Officer.
There are no family relationships between Ms. Wyant and any director or executive officer of the Company, and there are no transactions
between Ms. Wyant and the Company that would be required to be reported under Item 404(a) of Regulation S-K. As of the
date of this Current Report on Form 8-K, no new or other compensatory arrangements have been entered into with Ms. Wyant in connection
with her appointment as Interim Chief Financial Officer.
A
copy of the press release announcing Mr. Dwivedi’s resignation and Ms. Wyant’s appointment is included as Exhibit 99.1 to
this Current Report on Form 8-K and incorporated by reference herein.
Item 9.01. Financial
Statements and Exhibits.
(d) Exhibits
SIGNATURE
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
|
Nxu, Inc. |
|
|
|
|
By: |
/s/ Mark Hanchett |
|
|
Name: Mark Hanchett |
|
|
Title: Chief Executive Officer |
|
|
|
Dated: December 5, 2023 |
|
|
Exhibit 99.1
Press Release
FOR RELEASE ON: Dec. 5, 2023
Nxu Announces CFO Transition
Sarah Wyant Appointed Interim Chief Financial
Officer
MESA, Ariz., Dec. 5, 2023 - Nxu
Inc., (NASDAQ: NXU) (“Nxu”, “the Company”), a domestic technology company developing and manufacturing innovative
EV charging and energy storage solutions for the infrastructure we need to power our electrified future, announced that it has accepted
the resignation of Apoorv Dwivedi, its Chief Financial Officer, who will be pursuing other opportunities. Nxu has appointed Sarah Wyant,
its current Vice President of Finance, as Interim Chief Financial Officer. Dwivedi will continue to support the company in an advisory
capacity as needed through the first quarter of 2024.
“Nxu has built a strong bench of talent on the finance team, with deep experience in public company
operations and capital markets expertise. Sarah has been critical to building out financial rigor within Nxu since she joined us earlier
this year, and she has a strong understanding of our business strategy and long-term plans,” said Mark Hanchett, Chairman and CEO
at Nxu. “I’m confident in her leadership and look forward to continue advancing Nxu’s mission alongside her.”
“I am sincerely grateful for the opportunity to have been part
of this incredible journey, working alongside a dedicated team and witnessing the growth of our company,” said Dwivedi. “As
I continue to partner with Sarah and her team on this seamless transition throughout the first quarter of next year, I am confident in
the future of Nxu. The company boasts a remarkable product that addresses a critical gap in the electrification industry, contributing
to the sustainable future of transportation. With a clear, strategic path forward, I have full confidence in the talented team that will
continue to drive Nxu toward even greater success.”
"First, I want to thank Apoorv for his leadership and vote of confidence as we enter this transition. Building on the strong foundation
of continuous improvement and collaboration I worked to establish in our internal financial operations, we will continue to create value
for our shareholders, capitalizing on the momentum Nxu has generated in recent months," said Wyant. "With our impressive financial
team helping to lead the way, we have an exciting future ahead and I'm proud to be in the position to contribute so significantly during
this time."
Wyant joined Nxu in May of 2023 and has driven critical process creation and improvement across FP&A,
tax, audit, accounting, stock-based compensation, and procurement functions. Wyant brings almost 20 years of experience in corporate accounting
and finance, cross-functional team leadership, and business strategy to Nxu. Prior to joining Nxu, she served as Associate Director
of Accounting and Financial Planning & Analysis for Carvana, a publicly traded Fortune 500 automotive e-commerce company. At Carvana,
Wyant worked to build the corporate accounting function from the ground up, implementing processes and systems while hiring teams of strong
contributors who believed in the organization’s business mission. She crafted the organization's financial strategy within its retail
business function, where she oversaw the unit’s financial operations and drove enterprise-wide change with her tactical and progressive
approach to achieving operational change and financial impact. Prior to her career at Carvana, Wyant worked in public practice as Audit
Manager at Eide Bailly LLP in Phoenix and Audit Supervisor at BKD CPAs & Advisors in Denver. Wyant holds a CPA designation in both
Arizona and Colorado.
About Nxu, Inc.
Nxu, Inc. is a domestic technology company leveraging its intellectual
property and innovations to support e-Mobility and energy storage solutions. Driving the energy future, Nxu is developing an ecosystem
of industry-leading grid level energy storage solutions, charging infrastructure and over-air cloud management – encompassed by
Nxu’s seamless subscription-based models. For more information, visit www.nxuenergy.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation
Reform Act of 1995, including, but not limited to, statements regarding our future areas of focus and expectations for our business. These
forward-looking statements are based on our current assumptions, expectations and beliefs and involve substantial risks and uncertainties
that may cause results, performance or achievements to materially differ from those expressed or implied by these forward-looking statements.
Such forward-looking statements include statements regarding, among other things, Nxu’s expectations about its long term growth
strategy, future growth trajectory, revenue and operations; Nxu’s technology and alignment with broader trends in the EV market;
opportunities presented by electrification; beliefs about the general strength, weakness or health of Nxu’s business; and beliefs
about current or future trends in EV battery materials or other markets and the impact of these trends on Nxu’s business. A detailed
discussion of these factors and other risks that affect our business is included in filings we make with the Securities and Exchange Commission
(SEC) from time to time, including our most recent report on Form 10-K, particularly under the heading “Risk Factors.” Copies
of these filings are available online from the SEC or on the SEC Filings section of our Investor Relations website at www.nxuenergy.com.
All forward-looking statements in this press release are based on information currently available to us, and we assume no obligation to
update these forward-looking statements in light of new information or future events.
CONTACT:
Media Contact
info@nxuenergy.com
Investor Contact
Investors@nxuenergy.com
v3.23.3
X |
- DefinitionBoolean flag that is true when the XBRL content amends previously-filed or accepted submission.
+ References
+ Details
Name: |
dei_AmendmentFlag |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionFor the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.
+ References
+ Details
Name: |
dei_DocumentPeriodEndDate |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:dateItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.
+ References
+ Details
Name: |
dei_DocumentType |
Namespace Prefix: |
dei_ |
Data Type: |
dei:submissionTypeItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAddress Line 1 such as Attn, Building Name, Street Name
+ References
+ Details
Name: |
dei_EntityAddressAddressLine1 |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- Definition
+ References
+ Details
Name: |
dei_EntityAddressCityOrTown |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionCode for the postal or zip code
+ References
+ Details
Name: |
dei_EntityAddressPostalZipCode |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionName of the state or province.
+ References
+ Details
Name: |
dei_EntityAddressStateOrProvince |
Namespace Prefix: |
dei_ |
Data Type: |
dei:stateOrProvinceItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionA unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntityCentralIndexKey |
Namespace Prefix: |
dei_ |
Data Type: |
dei:centralIndexKeyItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionIndicate if registrant meets the emerging growth company criteria.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntityEmergingGrowthCompany |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionCommission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.
+ References
+ Details
Name: |
dei_EntityFileNumber |
Namespace Prefix: |
dei_ |
Data Type: |
dei:fileNumberItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTwo-character EDGAR code representing the state or country of incorporation.
+ References
+ Details
Name: |
dei_EntityIncorporationStateCountryCode |
Namespace Prefix: |
dei_ |
Data Type: |
dei:edgarStateCountryItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntityRegistrantName |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntityTaxIdentificationNumber |
Namespace Prefix: |
dei_ |
Data Type: |
dei:employerIdItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionLocal phone number for entity.
+ References
+ Details
Name: |
dei_LocalPhoneNumber |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 13e -Subsection 4c
+ Details
Name: |
dei_PreCommencementIssuerTenderOffer |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 14d -Subsection 2b
+ Details
Name: |
dei_PreCommencementTenderOffer |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTitle of a 12(b) registered security.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b
+ Details
Name: |
dei_Security12bTitle |
Namespace Prefix: |
dei_ |
Data Type: |
dei:securityTitleItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionName of the Exchange on which a security is registered.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection d1-1
+ Details
Name: |
dei_SecurityExchangeName |
Namespace Prefix: |
dei_ |
Data Type: |
dei:edgarExchangeCodeItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Section 14a -Number 240 -Subsection 12
+ Details
Name: |
dei_SolicitingMaterial |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTrading symbol of an instrument as listed on an exchange.
+ References
+ Details
Name: |
dei_TradingSymbol |
Namespace Prefix: |
dei_ |
Data Type: |
dei:tradingSymbolItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Securities Act -Number 230 -Section 425
+ Details
Name: |
dei_WrittenCommunications |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
NXU (NASDAQ:NXU)
Gráfica de Acción Histórica
De Ago 2024 a Sep 2024
NXU (NASDAQ:NXU)
Gráfica de Acción Histórica
De Sep 2023 a Sep 2024