Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, was notified by the NASDAQ Hearings Panel that its request to continue listing on the NASDAQ capital market has been granted with two conditions. Those conditions call for the company to maintain a closing bid price of $1 per share for 20 consecutive trading sessions on or before Jan. 22, 2024, and hold an annual shareholder meeting on or before March 8, 2024. According to the announcement, the company held a meeting on Aug. 3, 2023, where proposals were approved by shareholders, but shareholders did not have an opportunity to discuss company affairs with management at the meeting; the upcoming combined 2023 and 2024 annual meeting must include that opportunity in order to be compliant. “I am pleased NASDAQ gave the company this opportunity to continue implementing its business plan,” said Mullen Automotive CEO and share David Michery in the press release. “We are diligently working to regain and maintain compliance with NASDAQ’s continued listing requirements.”
To view the full press release, visit https://ibn.fm/JhunL
About Mullen Automotive Inc.
Mullen Automotive is a Southern California-based automotive company building the next generation of electric vehicles (“EVs”) that will be manufactured in its two United States-based assembly plants. Mullen’s EV development portfolio includes the Mullen FIVE EV Crossover; the Mullen I-GO Commercial Urban Delivery EV; the Mullen commercial class 1–3 EVs; and Bollinger Motors, which features both the B1 and B2 electric SUV trucks and class 4–6 commercial offerings. On Sept. 7, 2022, Bollinger Motors became a majority-owned EV truck company of Mullen Automotive, and on Dec. 1, 2022, Mullen closed on the acquisition of all Electric Last Mile Solutions (“ELMS”) assets, including all IP and a 650,000-square-foot plant in Mishawaka, Indiana. To learn more 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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