Mullen Automotive announced that it will effect a 1-for-100 reverse stock split of its common stock, par value $0.001 per share, that will become effective on September 17, at 12:01 a.m. Eastern Time. The Common Stock will continue to trade on The Nasdaq Capital Market under the existing symbol MULN and will begin trading on a split-adjusted basis when the market opens on September 17. The Reverse Stock Split is primarily intended to bring the company into compliance with the $1.00 minimum bid price requirement for maintaining its listing on Nasdaq. There is no guarantee the company will meet the minimum bid price requirement.
Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MULN:
- Mullen Automotive Inc. Announces Reverse Stock Split Effective Sept. 17, 2024
- Mullen’s Bollinger Motors adds Affinity Truck Center to retail network
- Mullen Subsidiary, Bollinger Motors, Continues Westward Expansion, Adds Affinity Truck Center to Its Retail Network
- Mullen’s Bollinger Motors achieves CARB certification
- Mullen Subsidiary, Bollinger Motors, Achieves CARB Certification; A Critical Step in Becoming Sales Ready