via InvestorWire – Mullen Technologies, Inc. (“Mullen” or the
“Company”), an emerging electric vehicle (“EV”)
manufacturer, which previously announced a definitive
agreement to merge with Net Element, Inc. (NASDAQ: NETE) in a
stock-for-stock reverse merger in which Mullen’s stockholders will
receive a majority of the outstanding stock in the post-merger
company, announces today an update for Mullen shareholders.
“I’m very grateful for all the hard work the Mullen team has put
into filing the recently cleared S4 which represents a significant
milestone in merging with Net Element,” said David Michery, CEO and
Chairman of Mullen. “I look forward to a successful transition
with NETE and congratulate their team for making this
happen. Our focus continues on our
EV efforts, and we are looking forward to debuting our
first EV Crossover, the Mullen FIVE.”
In March 2021, Mullen crossed another major milestone with the
purchase of its 120,000-square-foot Advanced Engineering and
Manufacturing Center and Proving Grounds (AMEC) on
100+ acres in Tunica, Mississippi. Mullen’s plans include an
additional 700,000-square-foot body shop, paint shop, warehouse,
and test track to complete an automotive campus. In total,
the campus will include over 820,000-square-feet with production
capacity of 100,000 vehicles annually.
Mullen has also hired experienced operating executives
Trey Agner as Director of Operations and Jerry Baker as Production
Manager to oversee and begin preparing the facility for production
start. The two executives have a combined 50+ years of
experience in manufacturing and bring a wealth of automotive
expertise in production, prototyping, plant operations and facility
management across the U.S. and internationally. Agner and Baker
were also part of the original manufacturing team that
established the facility in 2017 and they bring a wealth
of firsthand working knowledge for customizing the AMEC
facility to support the start
of manufacturing Mullen’s first EVs (electric
vehicles).
Mullen has also spent the past few
months diligently working on fine-tuning the design,
material selections and vehicle build for the Mullen
FIVE Crossover EV (formerly Ottava 2p6). Mullen will unveil
the FIVE to the world for the first time in November 2021. Mullen
is now accepting reservations on the FIVE. View here for more
details or to make a reservation.
The Form S-4 is available under Net Element’s CIK number
(0001499961) on the SEC’s EDGAR System.
About Mullen Technologies Mullen
Technologies is a Southern California-based licensed vehicle
manufacturer that operates in various verticals of the businesses,
focusing in the automotive industry: Mullen Automotive,
Mullen Energy, Mullen Auto Sales, Mullen Funding Corp., and CarHub.
Each of these divisions provide Mullen with diversity of
different products and services within the automotive industry. For
more information, please visit: www.MullenUSA.com.
Additional Information and Where to Find
It This press release relates to a proposed business
combination transaction between Mullen Technologies, Inc.
(“Mullen”) and Net Element, Inc. (“Net Element”). On May 14,
2021, Net Element filed with the U.S. Securities and Exchange
Commission (the “SEC”) a registration statement on Form S-4, which
included a proxy circular/prospectus. The S-4/A registration of
securities business combinations – amendment was filed on July 22,
2021. The registration statement on Form S-4 became effective
on July 26, 2021. This press release is not a substitute for
the preliminary proxy circular/prospectus that Net
Element has filed with the SEC or any other documents
that Net Element or Mullen may file with the
SEC or send to their respective stockholders in
connection with the proposed transaction. INVESTORS AND SECURITY
HOLDERS ARE URGED TO READ THE PROXY CIRCULAR/PROSPECTUS AND
ALL OTHER RELEVANT DOCUMENTS FILED OR THAT WILL BE FILED WITH THE
SEC, INCLUDING THE REGISTRATION STATEMENT ON FORM S-4, AS THEY
BECOME AVAILABLE BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT
INFORMATION ABOUT THE PROPOSED TRANSACTION. All such documents, if
filed, would be available free of charge at the SEC’s website
(www.sec.gov) or by directing a request to Mullen,
at 1405 Pioneer St, Brea, CA 92821, or by
calling (714) 613-1900, in the case of filings by Mullen;
or to Net Element, at 3363 NE 163rd Street, Suite 606,
North Miami Beach, Florida 33160, or by calling (305)
507-8808, in the case of filings by Net Element.
Participants in the Solicitation Net
Element and certain of its respective directors, executive
officers and employees may be deemed to be participants in the
solicitation of proxies in connection with the proposed
transaction. Information regarding Net Element’s directors and
executive officers is available in its definitive proxy statement
for its 2020 Annual Meeting, which was filed with the SEC on Oct.
13, 2020, its Annual Report on Form 10-K for the year ended Dec.
31, 2020, which was filed with the SEC on March 31, 2021, and
certain of its Current Reports on Form 8-K. Other information
regarding the participants in the proxy solicitation and a
description of their direct and indirect interests, by security
holdings or otherwise, is contained in the joint proxy
statement/prospectus and other relevant materials filed with the
SEC. Free copies of this document may be obtained as
described in the preceding paragraph.
No Offer or Solicitation This
communication shall not constitute an offer to sell or the
solicitation of an offer to sell or an offer to buy any securities,
nor shall there be any sale of securities in any jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
jurisdiction. No offer of securities shall be made except by means
of a prospectus meeting the requirements of Section 10 of the
Securities Act of 1933.
Forward-Looking Statements This press
release contains “forward-looking statements.” Words such as “may,”
“should,” “could,” “would,” “predicts,” “potential,” “continue,”
“expects,” “anticipates,” “future,” “intends,” “plans,” “believes,”
“estimates,” and similar expressions, as well as statements in
future tense, often signify forward-looking statements. These
forward-looking statements are, by their nature, subject to
significant risks and uncertainties that could cause actual
results to differ materially from those expressed or implied
in the forward-looking statements. Forward-looking
statements should not be read as a guarantee of future performance
or results and may not be accurate indications of when such
performance or results will be achieved. Forward-looking statements
are based on information that the Company has when those statements
are made or management’s good faith belief as of that time with
respect to future events and are subject to risks and uncertainties
that could cause actual performance or results to differ
materially from those expressed in or suggested by the
forward-looking statements, including whether Net
Element’s stockholders will vote to approve the merger
and other transactions contemplated in the merger agreement that
require Net Element’s stockholders’ approval,
whether regulatory approvals to the contemplated transaction
will be received and whether all other conditions precedent to the
transaction referenced in the merger agreement will
materialize. Additional examples of such risks and
uncertainties include, but are not limited to, any changes in
the laws, rules and regulations relating to any aspects of the
Company’s business operations, general economic, market and
business conditions, including capital market developments, the
actions and developments of the Company’s competitors and the
effects of competition in the EV industry on the demand for, and
price of, the Company’s current and proposed products and services,
various business opportunities that the Company, and factors beyond
the Company’s control. As a result of these and other risks,
uncertainties and assumptions, forward-looking events and
circumstances discussed herein might not occur in the way the
Company expects, or at all. Accordingly, you should not place
reliance on any forward-looking information or statements. The
Company assumes no obligation to publicly update or revise its
forward-looking statements as a result of new
information, future events or otherwise. All forward-looking
statements herein are qualified by reference to the cautionary
statements set forth in this section.
Contact: Mullen Technologies, Inc. (714)
613-1900 www.MullenUSA.com marketing@mullenusa.com
Wire Service Contact InvestorWire (IW) Los
Angeles, California www.InvestorWire.com 212.418.1217 Office
Editor@InvestorWire.com
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