Mullen Automotive, an emerging electric vehicle manufacturer, which previously announced a definitive stock-for-stock reverse merger agreement with Net Element (NASDAQ: NETE), in which Mullen’s stockholders will receive a majority of the outstanding stock in the post-merger company, today released a letter to shareholders from Mullen’s CEO David Michery. “As we begin the fourth quarter of 2021, I would like to take this opportunity to update everyone on the progress being made to complete the merger with Net Element. I am pleased to say that the SEC has declared effective the S-4 registration statement of the shares of the merger. The shareholders and boards of both companies have approved the deal and the company believes it can comply with the listing standards of the NASDAQ. The company currently is awaiting a final response from NASDAQ,” Michery writes in the update. “I would also like to update you on the upcoming debut of Mullen FIVE EV crossover. Mullen will be debuting the FIVE this coming November 2021 at the Los Angeles International Auto Show. Please visit Mullen and the FIVE EV Crossover Nov. 17 – 28 in the South Hall (Booth S-101) of the Los Angeles Convention Center.”
To view the full news release, visit https://ibn.fm/7w4hc
About Net Element Inc.
Net Element operates a payments-as-a-service transactional and value-added services platform for small and medium enterprises (“SMEs”) in the U.S. and selected emerging markets. In the U.S., the company aims to grow transactional revenue by innovating SME productivity services using blockchain technology solutions and Aptito, its cloud-based, restaurant and retail point-of-sale solution. Internationally, Net Element’s strategy is to leverage its omni-channel platform to deliver flexible offerings to emerging markets with diverse banking, regulatory and demographic conditions. Net Element was ranked as one of the fastest-growing companies in North America on Deloitte’s 2017 Technology Fast 500(TM). In 2017, it was recognized by South Florida Business Journal as one of 2016’s fastest-growing technology companies. For additional information, visitwww.NetElement.com.
NOTE TO INVESTORS: The latest news and updates relating to NETE are available in the company’s newsroom at http://ibn.fm/NETE
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