Summary by Futu AI
Mullen Automotive Inc. has filed a registration statement with the U.S. Securities and Exchange Commission (SEC) on September 6, 2024, for the resale of shares by certain shareholders. The shares in question are common stock that may be sold by the holders through various methods such as direct sales or through broker-dealers. The registration allows for the sale of these shares in the public market, although the company will not receive any proceeds from the sales. The selling shareholders may sell the shares at market prices or through negotiated transactions. This move could potentially affect the market price of Mullen Automotive's common stock and the company's ability to raise funds in the future. The registration includes shares that may be issued upon the conversion of convertible notes and the exercise of warrants, as well as shares that may be sold under Rule 144. The company has undertaken to provide all necessary documentation and to bear the costs associated with the registration.