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DUBAI - NWTN Inc. (Nasdaq:NWTN), a UAE-headquartered technology company with a market capitalization of $391.55 million, announced Friday it has changed the voting agenda for its extraordinary general meeting (EGM) scheduled for August 12, 2025. The company’s stock has declined 7.8% over the past week, reflecting recent market volatility.
The company has withdrawn "Proposal No.2" regarding the removal of certain directors from its board from the voting agenda. NWTN informed its share registrar and transfer agent, Continental Stock Transfer & Trust Company, of this intended withdrawal on August 7.
The EGM will proceed as planned on August 12 at 3 p.m. Dubai local time, as originally announced by the company on July 28.
NWTN describes itself as a global intelligent technology company focused on smart mobility, smart manufacturing, and smart contracts. The company is listed on the Nasdaq exchange.
This information is based on a press release statement issued by NWTN Inc.
In other recent news, NWTN Inc. has made several significant announcements that could impact its future trajectory. The UAE-based company has secured a $100 million investment from SEET LLC, a subsidiary of Medad Holding, which will see SEET become the largest single shareholder in NWTN. This investment is part of a broader collaboration between the two companies, focusing on urban mobility, artificial intelligence, smart energy, and blockchain technology. Additionally, NWTN has entered into an agreement to acquire a UAE power management firm through a $100 million share deal with SEET LLC. The transaction involves issuing Class B ordinary shares to SEET, which will be subject to a staged lock-up period over three years.
Moreover, NWTN announced a partnership with Changer.ae to implement stablecoin solutions in manufacturing and mobility sectors, aiming to integrate stablecoins across smart mobility, manufacturing, and digital asset management. The company also plans to change its name to "Robo.ai Inc.," a proposal that will be voted on at an extraordinary general meeting in August 2025. This name change accompanies other proposed corporate governance changes, including the removal of several directors and the appointment of Yehong Ji as a new independent director. These developments highlight NWTN’s strategic initiatives and potential shifts in its operational focus.
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