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BREA, CA – Mullen Automotive Inc. (NASDAQ:MULN), a company specializing in motor vehicles and passenger car bodies, announced today that it has received confirmation from The Nasdaq Stock Market LLC of regaining compliance with Nasdaq Listing Rule 5250(c)(1). This rule mandates the timely submission of periodic reports to the Securities and Exchange Commission (SEC).
The notice of compliance comes after Mullen Automotive filed its Annual Report on Form 10-K for the fiscal year ended September 30, 2024, on January 24, 2025. With this submission, the company has fulfilled the requirements for continued listing and trading on The Nasdaq Capital Market.
Mullen Automotive's status of compliance ensures that its common stock, with a par value of $0.001, will remain listed on The Nasdaq Capital Market under the trading symbol MULN. The company also has rights to purchase Series A-1 Junior Participating Preferred Stock, which are registered with Nasdaq, although they do not have a separate trading symbol.
This development follows a period of uncertainty where the company had to address the issue of timely filing with the SEC. The successful filing of the required annual report indicates Mullen Automotive's commitment to maintaining the standards set forth by Nasdaq for its listed companies.
The company, headquartered at 1405 Pioneer Street, Brea, California, operates under the leadership of Chief Executive Officer David Michery. Mullen Automotive, previously known as Net Element Inc ., has undergone several name changes in its history, reflecting its evolving business strategy and market focus.
Investors and stakeholders of Mullen Automotive can expect the company to continue its operations and trading activities without interruption following this announcement. The information regarding Mullen Automotive's regained compliance is based on the latest 8-K filing with the SEC.
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