- 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.
EVgo Tweets ‘We’re looking forward to seeing the Mullen FIVE hit the streets in 2024. With an estimated range of 325 miles, the FIVE can charge 0-80% in 21 minutes – and we’ve got the network to keep future Mullen drivers going!’
https://twitter.com/evgonetwork/status/1516089712880070662
