NUAI Stock Jumps 10% Premarket After Terminating Equity Purchase Facility Agreement

New Era Energy & Digital announced that the termination of the equity purchase facility agreement will take effect on October 24.

New Era Energy & Digital (NUAI) shares rose 10% in premarket trading on Friday after the company announced that it has delivered a notice of termination with respect to its equity purchase facility agreement.

The company announced that the termination of the equity purchase facility agreement will take effect on October 24. The firm stated it is currently sufficiently capitalized and does not anticipate selling any additional shares under the equity agreement.

New Era Energy & Digital also added that it has submitted a written request to the SEC to withdraw the preliminary proxy statement with respect to a special meeting of its stockholders, which was filed with the regulator on September 19.

The company has requested the withdrawal of the preliminary proxy statement, as it no longer seeks to increase its authorized shares from 250 million to three billion, and management is no longer considering one or more reverse stock splits.

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