Net Element Shares Gain On SEC's Approval Of Mullen Automotive Merger

Author: Anusuya Lahiri | September 27, 2021 04:23pm

• 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.

Posted In: NETE