Mullen Automotive Responds to Shareholders Regarding Majority Acquisition of Bollinger Motors
September 09 2022 - 8:30AM
via InvestorWire -- Mullen Automotive, Inc. (NASDAQ: MULN)
(“Mullen” or the “Company”), an emerging electric vehicle (“EV”)
manufacturer, issues a response to shareholders today regarding its
recent majority acquisition of Bollinger Motors,
Inc.
David Michery, CEO and chairman of Mullen Automotive said, “All
cash and stock required to close the Bollinger transaction on Sept.
7, 2022, has been funded or placed in escrow as required by the
transaction documents. We are excited about the opportunities this
acquisition brings and look forward to updating our shareholders
with the positive outcomes resulting from this transaction.”
For more information regarding the transaction, please refer to
the Current Report on Form 8K filed with the Securities and
Exchange Commission on Sept. 8, 2022.
About MullenMullen 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. The Mullen FIVE, the
company’s first electric crossover, is slated for delivery in 2024
and features an award-winning design and its patented PERSONA
technology that utilizes facial recognition to personalize the
driving experience for every individual. To learn more about the
company, visit www.MullenUSA.com.
About Bollinger MotorsFounded in 2015 by Robert
Bollinger, Bollinger Motors is a U.S.-based company, headquartered
in Oak Park, Michigan. Bollinger Motors manufactures all-electric
platforms and chassis cabs for commercial vehicles in Classes 3-6.
To learn more about the company, visit www.BollingerMotors.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 whether the Bollinger majority ownership acquisition
will be beneficial to the Company and whether there will be
positive outcomes to report to shareholders. Further 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
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