Curated News
By: NewsRamp Editorial Staff
April 09, 2025
Mullen Automotive Announces 1-for-100 Reverse Stock Split to Regain Compliance
TLDR
- Mullen Automotive (NASDAQ: MULN) implements 1-for-100 reverse stock split on April 11 to meet Nasdaq's $1.00 minimum bid price requirement.
- Post-split, Mullen will trade under ticker MULN with reduced outstanding shares from 220 million to 2.2 million and adjusted equity instruments.
- Mullen's reverse stock split aims to enhance shareholder value and market position, fostering investor confidence and long-term sustainability.
- Mullen Automotive's innovative approach to financial restructuring through reverse stock split reflects strategic adaptation and commitment to regulatory compliance.
Impact - Why it Matters
This news is crucial for investors in Mullen Automotive (NASDAQ: MULN) as the company aims to meet Nasdaq's bid price requirement. The reverse stock split will significantly reduce outstanding shares, potentially impacting the company's stock performance and compliance status.
Summary
Mullen Automotive (NASDAQ: MULN) will implement a 1-for-100 reverse stock split effective April 11, 2025, to comply with Nasdaq’s minimum bid price requirement. Shareholders approved the move to reduce outstanding shares from 220 million to 2.2 million. The company's common stock will continue to trade under the ticker MULN.
About Mullen Automotive Inc.: A Southern California-based company producing commercial electric vehicles, Mullen's products include the Mullen ONE and Mullen THREE, both California Air Resource Board and EPA certified. The company has expanded its dealer network and gained Foreign Trade Zone status for its manufacturing center in Mississippi.
Source Statement
This curated news summary relied on this press release disributed by InvestorBrandNetwork (IBN). Read the source press release here, Mullen Automotive Announces 1-for-100 Reverse Stock Split to Regain Compliance
