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GreenCarNewsBreaks — Mullen Automotive Inc. (NASDAQ: MULN) Receives NASDAQ Approval for 180-Day Extension to Meet Minimum $1 Bid Price

Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, announced that it received approval from NASDAQ of its 180-day extension request to meet the exchange’s $1 minimum bid price requirement. According to the announcement, Mullen received notice in September 2022 that its listed common stock no longer met NASDAQ’s minimum $1 bid price per share requirement. The company was given 180 calendar days, or until March 6, 2023, to regain compliance. The announcement also noted that if Mullen stock fails to trade above $1 for a minimum of 10 consecutive business days prior to Sept. 5, 2023, the company will implement a reverse stock split to cure the deficiency prior to the expiration of the additional 180-day compliance period. “Consistent with my message to our shareholders, we will use our best efforts to regain compliance to meet NASDAQ’s requirement for a $1 minimum bid price,” said Mullen Automotive CEO and chair David Michery.

To view the full press release, visit https://ibn.fm/tPHcN

About Mullen Automotive Inc.

Mullen Automotive is a southern California-based automotive company building the next generation of premium electric vehicles (“EVs”) that are affordable and built entirely in the United States. With an end-to-end ecosystem that supports owners from test driving to financing and servicing through a unique hybrid dealership model, customers are supported through every aspect of EV ownership. Mullen’s EV development portfolio includes the Mullen FIVE EV Crossover, Mullen Commercial Class 1-6 EVs and Bollinger Motors, which features both the B1 and B2 electric SUV trucks and commercial offerings. The Mullen FIVE, the company’s first electric crossover, is slated for deliver in 2024 and features an award-winning design and patented PERSONA technology that utilizes facial recognition to personalize the driving experience for every individual. 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 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

About Green Car Stocks

Green Car Stocks (GCS) is a specialized communications platform with a focus on electric vehicles (EV), as well as other emerging market opportunities in the green sector. The company provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to millions of social media followers, and (5) a full array of corporate communications solutions. As a multifaceted organization with an extensive team of contributing journalists and writers, GCS is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, GCS brings its clients unparalleled visibility, recognition and brand awareness. GCS is where news, content and information converge.

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