GreenEnergyBreaks – Mullen Automotive Inc. (NASDAQ: MULN) Announces Commencement of Stock Buyback Program

Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, today announced the start of the company’s $25 million stock buyback program with the repurchase of 3.7 million shares of common stock for an aggregate of $3,626,000. The buyback program started on Aug. 16, 2023, and can continue through Dec. 31, 2023. Mullen’s chairman and CEO David Michery also purchased 102,040 shares in the open market on Aug. 16, 2023, at a price of $0.9842 per share. The company is committed to taking all available measures to regain compliance with the NASDAQ minimum $1.00 bid price requirement. “We believe that our stock is undervalued,” Michery was quoted in the press release. “The company has begun production of our Class 3 EV with deliveries pending to customers and a strong balance sheet allowing us to execute on our business plan.”

To view the full news release, visit https://ibn.fm/iQJUG

About Mullen Automotive Inc.

Mullen is a Southern California-based automotive company building the next generation of electric vehicles (“EVs”) that will be manufactured in its two United States-based assembly plants. Mullen’s EV development portfolio includes the Mullen FIVE EV Crossover, Mullen-GO Commercial Urban Delivery EV, Mullen Commercial Class 1-3 EVs and Bollinger Motors, which features both the B1 and B2 electric SUV trucks and Class 4-6 commercial offerings. On Sept. 7, 2022, Bollinger Motors became a majority-owned EV truck company of Mullen Automotive, and on Dec. 1, 2022, Mullen closed on the acquisition of Electric Last Mile Solutions’ (“ELMS”) assets, including all IP and a 650,000-square-foot plant in Mishawaka, Indiana. For more information about the company, visit www.MullenUSA.com.

NOTE TO INVESTORS: The latest news and updates relating to MULN are available in the company’s newsroom at https://ibn.fm/MULN

About Green Energy Stocks

Green Energy Stocks (GCS) is a specialized communications platform with a focus on electric vehicles (EV), as well as other emerging market opportunities in the green sector. The company provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the InvestorBrandNetwork (IBN) to millions of social media followers, and (5) a full array of corporate communications solutions. As a multifaceted organization with an extensive team of contributing journalists and writers, GCS is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, GCS brings its clients unparalleled visibility, recognition and brand awareness. GCS is where news, content and information converge.

To receive SMS text alerts from Green Energy Stocks, text “Green” to 888-902-4192 (U.S. Mobile Phones Only)

For more information, please visit https://www.greennrgstocks.com

Please see full terms of use and disclaimers on the Green Energy Stocks website applicable to all content provided by GCS, wherever published or re-published: https://www.greennrgstocks.com/Disclaimer

Green Energy Stocks
Los Angeles, CA
greennrgstocks.com
415.949.5050 Office
Editor@GreenNRGStocks.com

Green Energy Stocks is part of the InvestorBrandNetwork.