GreenCarNewsBreaks — Mullen Automotive Inc. (NASDAQ: MULN) Announces 1-for-60 Reverse Stock Split to Maintain Nasdaq Listing
Mullen Automotive (NASDAQ: MULN), an electric vehicle manufacturer, announced a 1-for-60 reverse stock split of its common stock, set to take effect Feb. 18, 2025, at 12:01 a.m. Eastern. The move aims to help the company regain compliance with Nasdaq’s $1.00 minimum bid price requirement. Mullen’s stock will continue trading under the existing symbol MULN on a split-adjusted basis when markets open that day. Stockholders approved the reverse split at a Jan. 31 special meeting, authorizing a range between 1-for-2 and 1-for-100, with the board finalizing the 1-for-60 ratio. No fractional shares will be issued, and holdings will be rounded…