Nasdaq approves 180-day extension for Mullen Automotive

Mullen Automotive announces that Nasdaq has approved the Company’s request for a 180-day extension to meet the $1 minimum bid price requirement. On Sept. 7, 2022, Nasdaq provided notice to the Company that, based on the previous 30 consecutive business days, the Company’s listed common stock no longer met the minimum $1 bid price per share requirement as set forth in Nasdaq Listing Rule 5810(c)(3)(A). The Company was provided 180 calendar days, or until March 6, 2023, to regain compliance. If Mullen stock fails to trade above $1 for a minimum of 10 consecutive business days prior to Sept. 5, 2023, the Company will implement a reverse stock split to cure the Deficiency prior to the expiration of the additional 180-day compliance period.