NetworkNewsBreaks – Mullen Automotive Inc.’s (
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Posted On: 06/27/2023 4:54:26 PM
NetworkNewsBreaks – Mullen Automotive Inc.’s (NASDAQ: MULN) Series D Holders Exercise Final $100M Investment Option
Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, today announced that on June 23, 2023, its Series D investors exercised their final option, expiring June 30, 2023, for $100 million. The move resulted in additional funding of $100 million to the company. Mullen now has more than $235 million in cash and cash equivalents on its balance sheet, which is after expending $253 million-plus for two completed acquisitions that added valuable, unencumbered assets for the majority ownership in Bollinger Motors and certain assets related to Electric Last Mile Solutions (“ELMS”). “We are in the best financial position in our company’s history and remain fully committed and highly focused on producing, selling and delivering our vehicles to our customers prior to the end of 2023,” said David Michery, CEO and chairman of Mullen Automotive.
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, today announced that on June 23, 2023, its Series D investors exercised their final option, expiring June 30, 2023, for $100 million. The move resulted in additional funding of $100 million to the company. Mullen now has more than $235 million in cash and cash equivalents on its balance sheet, which is after expending $253 million-plus for two completed acquisitions that added valuable, unencumbered assets for the majority ownership in Bollinger Motors and certain assets related to Electric Last Mile Solutions (“ELMS”). “We are in the best financial position in our company’s history and remain fully committed and highly focused on producing, selling and delivering our vehicles to our customers prior to the end of 2023,” said David Michery, CEO and chairman of Mullen Automotive.
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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