On July 8, 2024, Ault Alliance, Inc., a Delaware corporation, filed a Schedule 13G with the SEC, indicating a significant ownership stake in Mullen Automotive Inc. Ault Alliance reported beneficial ownership of 4,410,629 shares of Mullen Automotive's common stock, representing 9.90% of the company. This stake is based on the total number of shares outstanding as reported on August 9, 2024. The filing was made under Rule 13d-1(c), which is used for passive investors. Ault Alliance has converted a previously owned note into common stock and holds warrants that could potentially increase its ownership, subject to a beneficial ownership limitation. The warrants have provisions for cashless exercise, calculated using a Black Scholes value formula. The filing asserts that the shares were not acquired for the purpose of changing or influencing the control of Mullen Automotive.

On July 8, 2024, Ault Alliance, Inc., a Delaware corporation, filed a Schedule 13G with the SEC, indicating a significant ownership stake in Mullen Automotive Inc. Ault Alliance reported beneficial ownership of 4,410,629 shares of Mullen Automotive's common stock, representing 9.90% of the company. This stake is based on the total number of shares outstanding as reported on August 9, 2024. The filing was made under Rule 13d-1(c), which is used for passive investors. Ault Alliance has converted a previously owned note into common stock and holds warrants that could potentially increase its ownership, subject to a beneficial ownership limitation. The warrants have provisions for cashless exercise, calculated using a Black Scholes value formula. The filing asserts that the shares were not acquired for the purpose of changing or influencing the control of Mullen Automotive.