- Emerging electric vehicle manufacturer Mullen Automotive, Inc declared the SEC ratifying the Net Element (NASDAQ:NETE) merger.
- The SEC has declared effective the S-4 registration statement of the shares of the merger.
- The shareholders and boards of both companies have approved the deal.
- Mullen is awaiting a final response from NASDAQ regarding compliance with its listing standards.
- Mullen previously announced a definitive stock-for-stock reverse merger agreement with Net Element. Mullen’s stockholders will receive a majority of the outstanding stock in the post-merger company.
- Meanwhile, Mullen will be debuting the FIVE EV Crossover this coming November 2021 at the Los Angeles International Auto Show.
- Price Action: NETE shares closed higher by 1.77% at $9.19 on Monday.
Net Element Q2 EPS $0.21 Up From $(0.08) YoY, Sales $33.30M Up From $13.72M YoY
Net Element (NASDAQ:NETE) reported quarterly earnings of $0.21 per share. This is a 362.5 percent increase over losses of $(0.08) per share from the same period last year. The company reported $33.30 million in sales
