Nxu (NXU) and Verde Bioresins said Wednesday that Nxu shareholders have voted to approve their merger.
The merger is expected to be completed in March, subject to the satisfaction of other closing conditions, the companies said. When completed, pre-merger Verde stockholders will own 95% of the combined company while pre-merger Nxu shareholders will hold about 5%.
Nxu shares were rising 50% in recent Wednesday trading.
Price: 0.41, Change: +0.14, Percent Change: +50.35
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