Summary by Moomoo AI
Mullen Automotive Inc., a Delaware corporation, has registered the resale of up to 85,000,000 shares of its common stock, par value $0.001 per share, by listed investors known as 'Selling Stockholders.' These shares are issuable upon the conversion of convertible notes and exercise of warrants as detailed in the company's prospectus. The resale prospectus relates to a private placement of notes and warrants, where the Selling Stockholders may sell the Offered Shares in various ways and at different prices. Mullen Automotive will not receive proceeds from the sales made by the Selling Stockholders, except for any cash exercise of the warrants. The company has also detailed the implications of being a 'smaller reporting company,' which allows for reduced public company reporting requirements. The date of the prospectus is August 2, 2024, and the last reported sale price of Mullen Automotive's common stock on The Nasdaq Capital Market was $1.01 per share as of August 1, 2024.
