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Posted On: 10/26/2023 4:44:24 PM
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NetworkNewsBreaks — Mullen Automotive Inc. (NASDAQ: MULN) Request to Continue Listing Is Granted by NASDAQ Hearings Panel
Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, was notified by the NASDAQ Hearings Panel that its request to continue listing on the NASDAQ capital market has been granted with two conditions. Those conditions call for the company to maintain a closing bid price of $1 per share for 20 consecutive trading sessions on or before Jan. 22, 2024, and hold an annual shareholder meeting on or before March 8, 2024. According to the announcement, the company held a meeting on Aug. 3, 2023, where proposals were approved by shareholders, but shareholders did not have an opportunity to discuss company affairs with management at the meeting; the upcoming combined 2023 and 2024 annual meeting must include that opportunity in order to be compliant. “I am pleased NASDAQ gave the company this opportunity to continue implementing its business plan,” said Mullen Automotive CEO and share David Michery in the press release. “We are diligently working to regain and maintain compliance with NASDAQ’s continued listing requirements.”
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, was notified by the NASDAQ Hearings Panel that its request to continue listing on the NASDAQ capital market has been granted with two conditions. Those conditions call for the company to maintain a closing bid price of $1 per share for 20 consecutive trading sessions on or before Jan. 22, 2024, and hold an annual shareholder meeting on or before March 8, 2024. According to the announcement, the company held a meeting on Aug. 3, 2023, where proposals were approved by shareholders, but shareholders did not have an opportunity to discuss company affairs with management at the meeting; the upcoming combined 2023 and 2024 annual meeting must include that opportunity in order to be compliant. “I am pleased NASDAQ gave the company this opportunity to continue implementing its business plan,” said Mullen Automotive CEO and share David Michery in the press release. “We are diligently working to regain and maintain compliance with NASDAQ’s continued listing requirements.”
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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