[SCHEDULE 13G/A] Nxu, Inc. SEC Filing
Nxu Inc. Schedule 13G/A shows that L1 Capital Global Opportunities Master Fund, Ltd. reports beneficial ownership of 286 shares of Class A common stock, representing 0.01% of the outstanding class. The filing clarifies these 286 shares are underlying warrants and refers to a prior Schedule 13G/A covering 1,500,000 shares purchased on December 27, 2024. The percent calculation uses 2,287,309 shares outstanding as of May 8, 2025, per the issuer's quarterly report. L1 Capital is organized in the Cayman Islands and lists David Feldman and Joel Arber as directors; David Feldman signed the amendment on behalf of the fund.
- Transparent disclosure of beneficial ownership and instrument type (warrants) consistent with reporting requirements
- Certification that holdings were not acquired to influence control, clarifying intent
- De minimis economic stake reported: only 286 shares representing 0.01% of the class, indicating no material influence
- Underlying position consists of warrants rather than currently issued common shares, limiting present voting power
Insights
TL;DR: The filing reports a de minimis economic stake; no material change to ownership or control.
The Schedule 13G/A discloses a nominal position of 286 shares (0.01%), characterized as underlying warrants, which is immaterial relative to the 2.29 million shares outstanding. The amendment references an earlier larger purchase noted in a prior filing but does not show current control-related intent. For investors, this is a routine disclosure of ownership and does not indicate a strategic shift by the reporting person.
TL;DR: Governance impact is negligible; disclosure meets Schedule 13G requirements and confirms non-control intent.
The filing includes the certification that the securities were not acquired to influence control and identifies fund directors, satisfying disclosure norms. The reported stake is below 5%, and the statement explicitly disclaims control intent. From a governance perspective, this is a routine update with no material implications for board composition or voting outcomes.