Mullen Automotive Hires Basile Law Firm P.C. to Review Prior Financings and Provide Strategic Review of Future Funding Initiatives
December 04 2023 - 9:15AM
via IBN -- Mullen Automotive, Inc. (NASDAQ: MULN) (“Mullen” or the
“Company”), an emerging electric vehicle (“EV”) manufacturer,
announces today that it has hired Mark R. Basile, Esq. and his law
firm, The Basile Law Firm P.C., to assist the Company in reviewing
its current fundings and to make recommendations in developing its
floorplan for future fundings.
“Mullen is committed to full transparency to the public markets.
We are making this announcement in an effort to notify our
shareholders that we fully intend to take any and all measures
necessary to continue our sustainable growth as we move ahead with
previously announced strategic initiatives,” said David Michery,
CEO and chairman of Mullen Automotive. “Mark R. Basile, Esq. is a
former law professor and a well-known and respected securities
litigator. Mr. Basile is also known for helping public companies
improve their internal operations and to recommend board and
company initiatives. We welcome Mr. Basile to our team of highly
skilled and capable lawyers, both in-house and out, and we are
looking forward to working with him as we continue to drive our
core business value forward.”
Michery continued, “While the Company is involved in many
strategic initiatives, there is a need to balance growth with
funding with an eye to developing real shareholder value. The
Company highly values our very vocal and active shareholder base,
and we remain committed to them. Our shareholder community has been
a great source of support, information and drive. As we venture
into the next level of business, we are committed to grow our
fundamental values with our focus in shareholder value.”
“I have worked with many public company executive teams and
boards of directors, and the opportunities presented in assisting
Mullen Automotive, Inc. are compelling,” stated Mr. Basile.
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 on all 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 Statements Certain 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 the benefits and outcome of the Basile Law Firm
engagement and: (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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