An announcement from Nxu ( (NXU) ) is now available.
Nxu and Verde Bioresins have entered a merger agreement where Nxu will acquire Verde in an all-stock transaction, renaming the combined company to Verde Bioresins, Corp. Post-merger, Verde’s shareholders will hold 95% of the new entity, aiming to leverage Verde’s innovative PolyEarthylene bioresin to disrupt the traditional plastics market. The merger is expected to create significant shareholder value, with the combined entity listing on Nasdaq under the symbol VRDE, subject to shareholder approvals and other conditions.
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