Summary by Moomoo AI
Mullen Automotive, Inc. has announced a 1-for-100 reverse stock split effective before the market opens on September 17, 2024. This corporate action follows previous adjustments to Mullen Automotive's options on May 4, August 11, and December 21 of 2023. As a result of the reverse stock split, each common share of Mullen Automotive will be converted into the right to receive 0.01 new common shares. Fractional shares resulting from the split will be rounded up to the nearest whole share. The adjusted options, with the symbol MULN1, will reflect the reverse split with a new multiplier of 100, meaning for premium or strike dollar extensions, 1.00 will now equal $100. The new CUSIP number for Mullen Automotive will be 62526P505. The Options Clearing Corporation (OCC) has made the determination to adjust options based on the company's corporate event, with adjustments made on a case-by-case basis and subject to change as new information becomes available or if there are material changes to the terms of the event.