NetworkNewsBreaks – Mullen Automotive Inc. (NASD
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Posted On: 12/18/2023 4:38:42 PM
NetworkNewsBreaks – Mullen Automotive Inc. (NASDAQ: MULN) Announces Adjournment of Special Meeting
Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, adjourned its Special Meeting of Stockholders, which convened on Dec. 15, 2023; the meeting is slated to begin today at 9:30 a.m. PT. According to the announcement, the decision to adjourn the meeting was made to provide time to solicit proxies regarding a proposal that had been submitted to stockholders for approval. The company noted that the proposal, Proposal 1, seeks stockholder approval to amend the company’s certificate of incorporation to effect a reverse stock split of MULN’s outstanding common stock at an exchange ratio between 1-for-2 to 1-for-100; the specific ratio will be determined by the company’s board of directors. The announcement stated that the primary focus of the reverse stock split proposal is to increase the per-share market price of Mullen’s common stock in order to comply with NASDAQ’s requirement to have a closing bid price of $1 or more per share for a minimum of 20 consecutive trading sessions on or before Jan. 22, 2024, and to maintain its listing on the NASDAQ Capital Market. “During the period of adjournment, the company and its proxy solicitor, Okapi Partners LLC, will continue to solicit votes from the company’s stockholders with respect to the reverse stock split proposal,” the company stated in the press release. “Stockholders can attend the reconvened Special Meeting on Dec. 18, 2023, via the same meeting link as set forth in the Definitive Proxy Statement filed with the Securities and Exchange Commission on Nov. 8, 2023.”
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, adjourned its Special Meeting of Stockholders, which convened on Dec. 15, 2023; the meeting is slated to begin today at 9:30 a.m. PT. According to the announcement, the decision to adjourn the meeting was made to provide time to solicit proxies regarding a proposal that had been submitted to stockholders for approval. The company noted that the proposal, Proposal 1, seeks stockholder approval to amend the company’s certificate of incorporation to effect a reverse stock split of MULN’s outstanding common stock at an exchange ratio between 1-for-2 to 1-for-100; the specific ratio will be determined by the company’s board of directors. The announcement stated that the primary focus of the reverse stock split proposal is to increase the per-share market price of Mullen’s common stock in order to comply with NASDAQ’s requirement to have a closing bid price of $1 or more per share for a minimum of 20 consecutive trading sessions on or before Jan. 22, 2024, and to maintain its listing on the NASDAQ Capital Market. “During the period of adjournment, the company and its proxy solicitor, Okapi Partners LLC, will continue to solicit votes from the company’s stockholders with respect to the reverse stock split proposal,” the company stated in the press release. “Stockholders can attend the reconvened Special Meeting on Dec. 18, 2023, via the same meeting link as set forth in the Definitive Proxy Statement filed with the Securities and Exchange Commission on Nov. 8, 2023.”
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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