Mullen Automotive Inc. Announces Reverse Stock Split Effective June 2, 2025

Core Points - Mullen Automotive Inc. will implement a 1-for-100 reverse stock split effective June 2, 2025, to comply with Nasdaq's minimum bid price requirement of $1.00 [1][2][3] - The reverse stock split will reduce the number of outstanding shares from approximately 80 million to about 800 thousand shares [5] - The reverse stock split will not change the par value of the common stock or the authorized number of shares [4] Company Overview - Mullen Automotive is an electric vehicle manufacturer based in Southern California, with two production plants located in Tunica, Mississippi, and Mishawaka, Indiana [7] - The company began commercial vehicle production in August 2023 and has certified models available for sale in the U.S. as of January 2024 [7] - Mullen Automotive acquired Bollinger Motors in September 2022, which has launched its Class 4 electric truck production [8]