Summary by Futu AI
Mullen Automotive Inc., a Delaware corporation, has registered 20,000,000 shares of its common stock for resale, which are issuable upon conversion of convertible notes and exercise of warrants held by certain investors. These shares are associated with rights to purchase Series A-1 Junior Participating Preferred Stock under the company's Rights Agreement. The registration does not necessarily indicate that the Selling Stockholders will sell the offered shares. The Selling Stockholders have various methods available to sell the shares, including on stock exchanges, over-the-counter markets, or through private transactions. The proceeds from the sale of shares by the Selling Stockholders will not be received by Mullen Automotive, except for any potential proceeds from the cash exercise of warrants. The company...Show More