Mullen Automotive Provides Fiscal First Quarter 2023 Business Update

(NASDAQ: MULN ) (“Mullen” or the “Company”), an emerging electric vehicle (“EV”) manufacturer, today announced a financial update for its fiscal first quarter in 2023 ending December 31, 2022. The Company has over $100 million in cash (includes restricted cash available for Company use) available for operations and investment at December 31, 2022. Mullen Receives Purchase Order from Randy Marion Automotive Group for 6,000 Class 1 EV Cargo Vans valued at approximately $200 million. The net loss per share was $0.28 for the three months ended December 31, 2022, as compared to a net loss per share of $8.93 for the three months ended December 31, 2021. Weighted average shares outstanding were 1.36 billion at December 31, 2022, and 17.5 million at December 31, 2021.