Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, today announced that it will implement a 1-for-100 reverse stock split of its common stock, par value $0.001 per share, automatically combining and converting 100 current shares of its common stock into one issued and outstanding share of common stock. The reverse stock split, approved by the company’s stockholders and the board of directors, will take effect on September 17, 2024, at 12:01 a.m. ET. Following the split, the new CUSIP number will be 62526P505, with Mullen’s common stock trading on a split-adjusted basis under the existing ticker symbol MULN.
To view the full press release, visit https://ibn.fm/jAczO
About Mullen Automotive Inc.
Mullen is a Southern California-based automotive company building the next generation of commercial electric vehicles (“EVs”) with two United States-based vehicle plants located in Tunica, Mississippi (120,000 square feet) and Mishawaka, Indiana (650,000 square feet). In August 2023, Mullen began commercial vehicle production in Tunica. In September 2023, Mullen received IRS approval for federal EV tax credits on its commercial vehicles with a Qualified Manufacturer designation that offers eligible customers up to $7,500 per vehicle. As of January 2024, both the Mullen ONE, a Class 1 EV cargo van, and Mullen THREE, a Class 3 EV cab chassis truck, are California Air Resource Board (“CARB”) and EPA certified and available for sale in the U.S. For more information about the company, visit www.MullenUSA.com.
NOTE TO INVESTORS: The latest news and updates relating to MULN are available in the company’s newsroom at https://ibn.fm/MULN
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