Curated News
By: NewsRamp Editorial Staff
May 29, 2025
Mullen Automotive Announces 1-for-100 Reverse Stock Split to Regain Compliance
TLDR
- Mullen Automotive (NASDAQ: MULN) enacts a 1-for-100 reverse stock split to regain Nasdaq compliance, reducing outstanding shares to 800,000.
- Shareholders approved the reverse split on May 21, reducing Mullen's outstanding common shares from 80 million to about 800,000.
- Mullen's reverse stock split aims to regain Nasdaq compliance, ensuring financial stability and investor confidence in the company's future.
- Mullen Automotive's reverse stock split is a strategic move to enhance shareholder value and position the company for future growth opportunities.
Impact - Why it Matters
This news highlights Mullen Automotive's efforts to meet Nasdaq's requirements and expand its commercial EV production. It also showcases the importance of communication platforms like GreenCarStocks in promoting sustainable energy initiatives.
Summary
Mullen Automotive (NASDAQ: MULN) announced a 1-for-100 reverse stock split to regain compliance with Nasdaq's bid price requirement. The split will reduce outstanding shares from 80 million to 800,000, with trading under the same ticker symbol.
About Mullen Automotive Inc.: A Southern California-based company building commercial EVs, Mullen received IRS approval for federal EV tax credits on its vehicles and expanded its dealer network.
About GreenCarStocks: A platform focused on EVs and green energy, offering various communication solutions for companies to reach a wide audience.
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
