Mullen Automotive Implements Reverse Stock Split to Maintain Nasdaq Listing

Mullen Automotive Inc. has announced a strategic financial maneuver to address its stock performance by implementing a 1-for-100 reverse stock split on June 2, 2025. The move, approved by shareholders and finalized by the company's board of directors, aims to regain compliance with Nasdaq's minimum bid price requirement of $1.00 per share.

The reverse stock split will dramatically reduce Mullen's outstanding common shares from approximately 80 million to about 800,000. Shareholders will see their existing shares consolidated, with the company maintaining its current ticker symbol. No fractional shares will be issued during this process, and most existing equity instruments and convertible securities will be proportionally adjusted.

This action is critical for Mullen Automotive's continued listing on the Nasdaq exchange. By consolidating shares, the company hopes to increase its per-share price and demonstrate financial stability to investors. Reverse stock splits are often used by companies facing potential delisting due to prolonged low stock prices.

The electric vehicle manufacturer, which has been expanding its commercial vehicle production, has already begun manufacturing in its Tunica, Mississippi facility. The company has achieved significant milestones, including receiving IRS approval for federal EV tax credits and obtaining California Air Resource Board certification for its Mullen ONE cargo van and Mullen THREE truck models.

Investors should note that while the reverse stock split does not inherently change the company's total market value, it can signal management's commitment to maintaining market listing requirements and potentially attracting more institutional investors. The split represents a strategic financial restructuring aimed at improving Mullen Automotive's market positioning and investor perception.