Mullen Automotive Inc. Announces Reverse Stock Split Effective April 11, 2025

Core Viewpoint - Mullen Automotive Inc. will implement a 1-for-100 reverse stock split to comply with Nasdaq's minimum bid price requirement of $1.00, effective April 11, 2025 [1][2][3] Group 1: Reverse Stock Split Details - The reverse stock split will convert 100 shares of common stock into one share, reducing the total from approximately 220 million shares to about 2.2 million shares [5] - The reverse stock split will not change the par value of the common stock or the authorized number of shares [4] - No fractional shares will be issued; all fractional shares will be rounded up to the nearest whole share [5] Group 2: Company Background - Mullen Automotive is based in Southern California and focuses on manufacturing the next generation of commercial electric vehicles (EVs) [7] - The company has two vehicle plants located in Tunica, Mississippi, and Mishawaka, Indiana, and began commercial vehicle production in August 2023 [7] - Mullen's EV models, including the Mullen ONE and Mullen THREE, are certified by the California Air Resource Board and EPA, and are available for sale in the U.S. [7]