Mullen CEO Addresses Letter to Shareholders

December 24, 2023

David Michery discusses reasons for reverse stock splitBREA, Calif., Dec. 19, 2023 (GLOBE NEWSWIRE) -- via IBN -- Mullen Automotive Inc. (NASDAQ: MULN ) (“Mullen” or the “Company”), an emerging electric vehicle (“EV”) manufacturer, today shares an open letter to Mullen shareholders addressing its recent reverse stock split. Dear Mullen Shareholders:As most of you are aware by now, at the recently reconvened shareholders meeting held on Dec. 18, 2023, Mullen shareholders approved the Company effecting a reverse stock split. I know many of our loyal shareholders were very outspoken about not wanting another reverse stock split, and I completely understand their sentiment. Any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements. Examples of such risks and uncertainties include but are not limited to how Mullen’s stock will perform after the Reverse Stock Split, Mullen’s ability to timely implement the Reverse Stock Split, the success of the Reverse Stock Split, and Mullen’s ability to regain compliance with the Nasdaq Listing standards.

The source of this news is from Mullen Automotive