MULN - Mullen Automotive fires off 1-for-25 reverse stock split

2023-05-03 13:38:05 ET

Electric vehicle manufacturer Mullen Automotive ( NASDAQ: MULN )  announced on Wednesday that it will effect a 1-for-25 reverse stock split .

Shares of Mullen Automotive ( MULN ) will begin trading on a split-adjusted basis when the market opens on Thursday.

The company noted that the reverse stock split is primarily intended to bring it back into compliance with the $1.00 minimum bid price requirement for maintaining its listing on Nasdaq. It was also pointed out that there is no guarantee MULN will meet the minimum bid price requirement. The reverse stock split will not change the par value of the stock nor the authorized number of shares of common stock, preferred stock or any series of preferred stock. The split will affect all stockholders uniformly.

Shares of Mullen Automotive ( MULN ) fell a penny to $0.07 in Wednesday afternoon trading.

For further details see: