Mullen Regains Full Nasdaq Compliance
March 07 2024 - 9:00AM
via IBN -- Mullen Automotive Inc. (Nasdaq: MULN) (“Mullen” or the
“Company”), an emerging electric vehicle (“EV”) manufacturer, today
announces that on March 6, 2024, it received formal notice from The
Nasdaq Stock Market LLC (“Nasdaq”) confirming that the Company has
regained compliance with the annual shareholder meeting requirement
set forth in Nasdaq Listing 5620(a). Mullen previously announced on
Jan. 24, 2024, that the Company had regained compliance with the
minimum bid price requirement set forth in Nasdaq Listing Rule
5550(a)(2). Mullen is now in full compliance with all Nasdaq
continued listing requirements and will continue to be listed and
traded on The Nasdaq Capital Market.
Based on the foregoing, the Panel has determined to continue the
listing of the Company’s securities on The Nasdaq Stock Market and
is closing this matter. The Company anticipates being removed from
Nasdaq’s list of noncompliant companies within approximately four
business days from the March 6, 2024, receipt of Nasdaq’s
notification of compliance.
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 whether the Company will continue to maintain
compliance with all Nasdaq continued listing requirements and when
the Company will be removed from Nasdaq’s noncompliant companies
list. 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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