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Mullen Automotive | 8-K: Mullen Automotive Inc. Announces Reverse Stock Split Effective Sept. 17, 2024

Mullen Automotive | 8-K: Mullen Automotive Inc. Announces Reverse Stock Split Effective Sept. 17, 2024

Mullen Automotive | 8-K:馬倫汽車公司宣佈反向股票拆分自2024年9月17日起生效
美股SEC公告 ·  2024/09/20 14:03

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Mullen Automotive announced a 1-for-100 reverse stock split effective September 17, 2024, primarily aimed at meeting Nasdaq's $1.00 minimum bid price requirement. The company's common stock will continue trading under the symbol MULN with a new CUSIP number 62526P505. The split was approved by stockholders at a Special Meeting on September 9, 2024.The reverse split will automatically convert every 100 current shares into one share, with proportional adjustments to outstanding equity awards, warrants, convertible notes, and preferred stock conversion prices. No fractional shares will be issued, with all fractional shares rounded up to the nearest whole share. The split will not alter the authorized share count or par value.On September 16, 2024, Mullen received notice from Nasdaq regarding non-compliance with the minimum bid price requirement. The company plans to request a hearing before the Nasdaq Hearings Panel, which will stay any delisting action pending the hearing process. The stock must maintain a closing bid price of at least $1.00 for 10-20 consecutive business days to regain compliance.
Mullen Automotive announced a 1-for-100 reverse stock split effective September 17, 2024, primarily aimed at meeting Nasdaq's $1.00 minimum bid price requirement. The company's common stock will continue trading under the symbol MULN with a new CUSIP number 62526P505. The split was approved by stockholders at a Special Meeting on September 9, 2024.The reverse split will automatically convert every 100 current shares into one share, with proportional adjustments to outstanding equity awards, warrants, convertible notes, and preferred stock conversion prices. No fractional shares will be issued, with all fractional shares rounded up to the nearest whole share. The split will not alter the authorized share count or par value.On September 16, 2024, Mullen received notice from Nasdaq regarding non-compliance with the minimum bid price requirement. The company plans to request a hearing before the Nasdaq Hearings Panel, which will stay any delisting action pending the hearing process. The stock must maintain a closing bid price of at least $1.00 for 10-20 consecutive business days to regain compliance.
Mullen Automotive宣佈將於2024年9月17日進行1股換100股的反向股票拆分,主要目的是滿足納斯達克1.00美元的最低買盤價格要求。公司的普通股將繼續在標的MULN下交易,新的CUSIP號碼爲62526P505。該拆分已於2024年9月9日的特別股東會議上獲得股東批准。反向拆分將自動將每100股當前股票轉換爲1股,並對未償還的股權獎勵、Warrants、可轉換債券和優先股票轉換價格進行按比例調整。不會發行碎股,所有碎股將四捨五入爲最接近的整股。該拆分不會改變授權的股份總數或面值。2024年9月16日,Mullen收到了納斯達克關於未遵守最低買盤價格要求的通知。公司計劃請求在納斯達克聽證委員會之前進行聽證,該聽證會將在聽證流程待定期間暫停任何退市行動。股票必須在10-20個連續的業務日內保持至少1.00美元的收盤買盤價格,以重新獲得合規資格。
Mullen Automotive宣佈將於2024年9月17日進行1股換100股的反向股票拆分,主要目的是滿足納斯達克1.00美元的最低買盤價格要求。公司的普通股將繼續在標的MULN下交易,新的CUSIP號碼爲62526P505。該拆分已於2024年9月9日的特別股東會議上獲得股東批准。反向拆分將自動將每100股當前股票轉換爲1股,並對未償還的股權獎勵、Warrants、可轉換債券和優先股票轉換價格進行按比例調整。不會發行碎股,所有碎股將四捨五入爲最接近的整股。該拆分不會改變授權的股份總數或面值。2024年9月16日,Mullen收到了納斯達克關於未遵守最低買盤價格要求的通知。公司計劃請求在納斯達克聽證委員會之前進行聽證,該聽證會將在聽證流程待定期間暫停任何退市行動。股票必須在10-20個連續的業務日內保持至少1.00美元的收盤買盤價格,以重新獲得合規資格。
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