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BREA, Calif. - Mullen Automotive Inc. (NASDAQ:MULN) announced Thursday that its previously disclosed name change to Bollinger Innovations, Inc. will take effect on July 28, 2025. The company’s stock will begin trading under the new ticker symbol "BINI" on The Nasdaq Capital Market at market open on the same date. According to InvestingPro data, the stock has seen significant trading activity with an average daily volume of 560,000 shares over the past three months.
The electric vehicle manufacturer stated that the CUSIP number for its common stock will remain unchanged. According to the company, the name and stock symbol change will not affect its legal structure or business operations, and stockholders are not required to take any action in connection with these changes. The stock has faced challenging market conditions, with InvestingPro data showing a decline of 66% over the past year and 64% in the last six months.
"Our transition to Bollinger Innovation goes beyond a simple name change," said David Michery, CEO and chairman. "We are bringing our products and brands together under one strong and unified identity, ready to service the commercial vehicle industry." For deeper insights into the company’s financial health and growth prospects, investors can access additional ProTips and detailed metrics through an InvestingPro subscription.
Mullen Automotive, soon to be Bollinger Innovations, is a Southern California-based automotive company that manufactures commercial electric vehicles at its facility in Tunica, Mississippi. The company currently produces the ONE, a Class 1 EV cargo van, and the THREE, a Class 3 EV cab chassis truck, both of which are California Air Resource Board and EPA certified.
In September 2022, Mullen acquired a majority stake in Bollinger Motors of Oak Park, Michigan, which recently launched production of its B4 Class 4 electric truck on September 16, 2024.
The information in this article is based on a company press release statement.
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