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.
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