Mullen Automotive Regains Compliance with Nasdaq Minimum Bid Price Requirement
24 Enero 2024 - 1:00PM
via IBN – Mullen Automotive Inc. (NASDAQ: MULN) (“Mullen” or the
“Company”), an emerging electric vehicle (“EV”) manufacturer,
announces today that it has received formal notice from The Nasdaq
Stock Market LLC confirming the Company has regained compliance
with the minimum bid price requirement set forth in Nasdaq Listing
Rule 5550(a)(2). Mullen will continue to be listed and traded
on The Nasdaq Capital Market.
As previously disclosed, the Nasdaq Hearings Panel has also
granted the Company until March 8, 2024, to demonstrate compliance
with the annual shareholder meeting requirement set forth in Nasdaq
Listing Rule 5620(a). Mullen has scheduled its Annual Meeting of
Stockholders to be held on February 29, 2024.
About MullenMullen Automotive (NASDAQ: MULN) 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,
Mullen-GO Commercial Urban Delivery EV, 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 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.
Forward-Looking StatementsCertain statements in this
press release that are not historical facts are forward-looking
statements within the meaning of Section 27A of the Securities
Exchange Act of 1934, as amended. Any statements contained in this
press release that are not statements of historical fact may be
deemed forward-looking statements. Words such as "continue,"
"will," "may," "could," "should," "expect," "expected," "plans,"
"intend," "anticipate," "believe," "estimate," "predict,"
"potential" and similar expressions are intended to identify such
forward-looking statements. All forward-looking statements involve
significant risks and uncertainties that could cause actual results
to differ materially from those expressed or implied in the
forward-looking statements, many of which are generally outside the
control of Mullen and are difficult to predict. Examples of such
risks and uncertainties include but are not limited to the date of
Mullens annual shareholder meeting and whether the Company will be
successful in maintaining continued Nasdaq listing
compliance. Additional examples of such risks and
uncertainties include but are not limited to: (i) Mullen’s ability
(or inability) to obtain additional financing in sufficient amounts
or on acceptable terms when needed; (ii) Mullen's ability to
maintain existing, and secure additional, contracts with
manufacturers, parts and other service providers relating to its
business; (iii) Mullen’s ability to successfully expand in existing
markets and enter new markets; (iv) Mullen’s ability to
successfully manage and integrate any acquisitions of businesses,
solutions or technologies; (v) unanticipated operating costs,
transaction costs and actual or contingent liabilities; (vi) the
ability to attract and retain qualified employees and key
personnel; (vii) adverse effects of increased competition on
Mullen’s business; (viii) changes in government licensing and
regulation that may adversely affect Mullen’s business; (ix) the
risk that changes in consumer behavior could adversely affect
Mullen’s business; (x) Mullen’s ability to protect its intellectual
property; and (xi) local, industry and general business and
economic conditions. Additional factors that could cause actual
results to differ materially from those expressed or implied in the
forward-looking statements can be found in the most recent annual
report on Form 10-K, quarterly reports on Form 10-Q and current
reports on Form 8-K filed by Mullen with the Securities and
Exchange Commission. Mullen anticipates that subsequent events and
developments may cause its plans, intentions and expectations to
change. Mullen assumes no obligation, and it specifically disclaims
any intention or obligation, to update any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as expressly required by law. Forward-looking
statements speak only as of the date they are made and should not
be relied upon as representing Mullen’s plans and expectations as
of any subsequent date.
Contact:Mullen Automotive, Inc.+1 (714)
613-1900www.MullenUSA.com
Corporate Communications:InvestorBrandNetwork (IBN) Los
Angeles, California www.InvestorBrandNetwork.com 310.299.1717
Office Editor@InvestorBrandNetwork.com
Mullen Automotive (NASDAQ:MULN)
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