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home / news releases / MULN - Mullen Automotive announces $25M stock repurchase program

MULN - Mullen Automotive announces $25M stock repurchase program

Mullen Automotive Inc.

2023-07-06 08:12:29 ET

  • Mullen Automotive ( NASDAQ: MULN ) has authorised a stock repurchase program for up to $25 million in shares of its outstanding common stock until December 31, 2023.
  • The company believes its stock is significantly undervalued and is trading at a significant discount to its current cash position of approximately $235M.
  • "We are initiating this buyback program as an attractive opportunity to deploy capital and return value to our shareholders," said David Michery, CEO and chairman of Mullen Automotive.
  • Shares up 46% premarket.

For further details see:

Mullen Automotive announces $25M stock repurchase program
Stock Information
Company Name: Mullen Automotive Inc.
Stock Symbol: MULN
Market: NASDAQ
Website: mullenusa.com
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