MULN - Mullen receives further extension to regain Nasdaq's listing compliance
2023-03-08 09:26:06 ET
- Mullen Automotive ( NASDAQ: MULN ) has received a 180-day extension to meet Nasdaq's $1 minimum bid price requirement.
- The Southern California-based automotive company was initially provided 180 calendar days, or until March 6, 2023, to regain compliance.
- It will implement a reverse stock split if the stock fails to trade above $1 for a minimum of 10 consecutive business days prior to September 5, 2023.
- "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 David Michery, CEO and chairman of Mullen.
- Shares of Mullen ( MULN ) fell around 4% premarket
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Mullen receives further extension to regain Nasdaq's listing compliance