Mullen Automotive to hold special shareholder meeting Dec. 15 to vote on proposed reverse stock split

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Mullen Automotive to hold special shareholder meeting Dec. 15 to vote on proposed reverse stock split

Dow Jones2023-10-19

MW Mullen Automotive to hold special shareholder meeting Dec. 15 to vote on proposed reverse stock split

Mullen Automotive Inc. (MULN) said Thursday it will convene a special shareholder meeting on Dec. 15 to vote on the board's proposal for a reverse stock split at an exchange ratio of between 1-for-2 to 1-for-100. The move is aimed at giving the electric vehicle company a stock price of at least $1 so it can comply with Nasdaq minimum listing requirements. The stock was down 6.8% in premarket trade after closing Wednesday at 34 cents. The stock has fallen 99% in the year to date, while the S&P 500 has gained 12%.

-Ciara Linnane

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October 19, 2023 08:41 ET (12:41 GMT)

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yngwin111
·2023-10-19
Going bankrupt
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