Mullen Automotive is seeking shareholder approval for several significant corporate actions at its upcoming annual meeting. The proposals include authorizing a reverse stock split, increasing shares under the equity incentive plan, adopting an automatic annual increase in plan shares, and increasing authorized preferred stock.Notably, the company is requesting approval to effect a reverse stock split at a ratio between 1-for-2 to 1-for-100, to be determined by the Board. This aims to increase the per-share price to meet Nasdaq listing requirements. Other key proposals involve adding 20 million shares to the 2022 Equity Incentive Plan and implementing an annual automatic increase in plan shares.Additionally, Mullen is seeking to increase authorized preferred stock from 500 million to 1 billion shares. The company states these actions will provide flexibility for future financing and equity compensation. Shareholders will vote on these proposals at the annual meeting scheduled for February 27, 2025.

Mullen Automotive is seeking shareholder approval for several significant corporate actions at its upcoming annual meeting. The proposals include authorizing a reverse stock split, increasing shares under the equity incentive plan, adopting an automatic annual increase in plan shares, and increasing authorized preferred stock.Notably, the company is requesting approval to effect a reverse stock split at a ratio between 1-for-2 to 1-for-100, to be determined by the Board. This aims to increase the per-share price to meet Nasdaq listing requirements. Other key proposals involve adding 20 million shares to the 2022 Equity Incentive Plan and implementing an annual automatic increase in plan shares.Additionally, Mullen is seeking to increase authorized preferred stock from 500 million to 1 billion shares. The company states these actions will provide flexibility for future financing and equity compensation. Shareholders will vote on these proposals at the annual meeting scheduled for February 27, 2025.