FAQ on Mullen Automotive Inc.'s 1-for-100 Reverse Stock Split
Summary
Mullen Automotive Inc. (NASDAQ: MULN) is implementing a 1-for-100 reverse stock split on April 11, 2025, to comply with Nasdaq's minimum bid price requirement, reducing outstanding shares from approximately 220 million to 2.2 million.
What is the purpose of Mullen Automotive’s reverse stock split?
The reverse stock split aims to help Mullen Automotive regain compliance with Nasdaq’s $1.00 minimum bid price requirement.
When will the reverse stock split take effect?
The reverse stock split is scheduled to take effect on April 11, 2025.
How will the reverse stock split affect the number of outstanding shares?
The reverse stock split will reduce the number of outstanding shares from approximately 220 million to 2.2 million.
Will Mullen Automotive’s ticker symbol change after the reverse stock split?
No, Mullen Automotive’s common stock will continue to trade under the ticker symbol MULN post-split.
What happens to fractional shares as a result of the reverse stock split?
No fractional shares will be issued; all such holdings will be rounded up.
Where can I find more information about Mullen Automotive’s reverse stock split?
For more details, you can view the full press release at https://ibn.fm/HLfQI.
What is Mullen Automotive Inc.?
Mullen Automotive is a Southern California-based automotive company focused on building the next generation of commercial electric vehicles, with manufacturing plants in Mississippi and Indiana.
Where can I find the latest news and updates about Mullen Automotive?
The latest news and updates relating to MULN are available in the company’s newsroom at https://ibn.fm/MULN.
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