NetworkNewsBreaks — Mullen Automotive Inc. (NASD
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Posted On: 03/09/2023 3:53:44 PM
NetworkNewsBreaks — Mullen Automotive Inc. (NASDAQ: MULN) Receives NASDAQ Approval for 180-Day Extension to Meet Minimum $1 Bid Price
Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, announced that it received approval from NASDAQ of its 180-day extension request to meet the exchange’s $1 minimum bid price requirement. According to the announcement, Mullen received notice in September 2022 that its listed common stock no longer met NASDAQ’s minimum $1 bid price per share requirement. The company was given 180 calendar days, or until March 6, 2023, to regain compliance. The announcement also noted that if Mullen stock fails to trade above $1 for a minimum of 10 consecutive business days prior to Sept. 5, 2023, the company will implement a reverse stock split to cure the deficiency prior to the expiration of the additional 180-day compliance period. “Consistent with my message to our shareholders, we will use our best efforts to regain compliance to meet NASDAQ’s requirement for a $1 minimum bid price,” said Mullen Automotive CEO and chair David Michery.
Please see full 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, announced that it received approval from NASDAQ of its 180-day extension request to meet the exchange’s $1 minimum bid price requirement. According to the announcement, Mullen received notice in September 2022 that its listed common stock no longer met NASDAQ’s minimum $1 bid price per share requirement. The company was given 180 calendar days, or until March 6, 2023, to regain compliance. The announcement also noted that if Mullen stock fails to trade above $1 for a minimum of 10 consecutive business days prior to Sept. 5, 2023, the company will implement a reverse stock split to cure the deficiency prior to the expiration of the additional 180-day compliance period. “Consistent with my message to our shareholders, we will use our best efforts to regain compliance to meet NASDAQ’s requirement for a $1 minimum bid price,” said Mullen Automotive CEO and chair David Michery.
Please see full 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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