Nxu, Inc. is set to be delisted from the Nasdaq Capital Market following a determination by Nasdaq's Hearing Panel. The decision stems from Nxu's inability to meet the minimum bid price requirement, despite a reverse stock split attempt at a ratio of 1-for-20. The company has until June 19, 2025, to request a review of the Panel's decision by the Nasdaq Listing and Review Council. If no appeal or review is made, a Form 25-NSE will be filed with the SEC to finalize the removal of the company's securities from listing and registration on Nasdaq.
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