Mullen Automotive, Inc., an emerging electric vehicle (“EV”) manufacturer, announces a 1 for 9 reverse split. The Company intends to begin repurchasing up to $25 million in shares through a stock buyback program after the filing of its 10-Q and upon expiration of its blackout period.
“We believe the Company is highly undervalued and the stock buyback program represents a compelling use of our capital, reflecting confidence in our business," said David Michery, CEO and chairman of Mullen Automotive.
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