Summary by Moomoo AI
On May 14, 2024, JADR Capital 2 Pty Ltd. and Justin Davis-Rice, collectively referred to as the Reporting Persons, filed a Schedule 13G with the United States Securities and Exchange Commission (SEC), indicating a significant ownership stake in Mullen Automotive Inc. The filing, which is a requirement for parties owning more than five percent of a company's stock, shows that the Reporting Persons have beneficial ownership of 1,266,657 shares of Mullen Automotive's common stock, representing 9.99% of the company. This ownership includes the potential to acquire additional shares through a Warrant and a Convertible Note, both subject to beneficial ownership limitations preventing ownership exceeding 9.99% of the outstanding common stock. The Reporting Persons are Australian entities, with JADR Capital 2 Pty Ltd. being a private company and Justin Davis-Rice serving as its sole director. The filing also includes a certification that the shares were not acquired for the purpose of changing or influencing the control of Mullen Automotive Inc.