Mullen Automotive has entered into a Common Stock Purchase Agreement with Bollinger Motors on July 26, 2024, to acquire approximately 33.37% ownership stake for $36.1 million in cash. Initially, the company paid $2.6 million for 33,048 shares, followed by an additional $1.7 million for 26,244 shares.The agreement includes provisions for Mullen to acquire the remaining 434,821 shares for approximately $33.6 million before February 2025, at $77.16 per share, subject to financing conditions. Additionally, Mullen has an 18-month option to purchase up to 439,347 additional shares at the same price per share.The deal also grants Mullen a 36-month right to purchase up to 100% of Bollinger's shares in any Committed Third Party Financing at 75% of the offered price. This strategic investment positions Mullen to expand its presence in the automotive sector while maintaining flexibility in its acquisition timeline.

Mullen Automotive has entered into a Common Stock Purchase Agreement with Bollinger Motors on July 26, 2024, to acquire approximately 33.37% ownership stake for $36.1 million in cash. Initially, the company paid $2.6 million for 33,048 shares, followed by an additional $1.7 million for 26,244 shares.The agreement includes provisions for Mullen to acquire the remaining 434,821 shares for approximately $33.6 million before February 2025, at $77.16 per share, subject to financing conditions. Additionally, Mullen has an 18-month option to purchase up to 439,347 additional shares at the same price per share.The deal also grants Mullen a 36-month right to purchase up to 100% of Bollinger's shares in any Committed Third Party Financing at 75% of the offered price. This strategic investment positions Mullen to expand its presence in the automotive sector while maintaining flexibility in its acquisition timeline.