Mullen Automotive announced that it will effect a 1-for-25 reverse stock split of its common stock that will become effective on May 4, at 12:01 a.m., Eastern Time. Mullen’s Common Stock will continue to trade on The Nasdaq Capital Market under the existing symbol “MULN” and will begin trading on a split-adjusted basis when the market opens on May 4. “The reverse stock split is primarily intended to bring the company into compliance with the $1.00 minimum bid price requirement for maintaining its listing on Nasdaq. There is no guarantee the company will meet the minimum bid price requirement,” Mullen stated.
Published first on TheFly
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