Net Element (NASDAQ: NETE) previously entered a definitive agreement to merge with Mullen Technologies, a Southern California-based electric vehicle (“EV”) company, in a move intended to maximize shareholder value. The pending reverse-merger will allow privately-held Mullen stakeholders to acquire a majority of the new stock and accelerate the process of taking the company public, giving potential investors an opportunity to purchase relatively undervalued shares within the rapidly growing sector. Investors continue to divert capital into the EV industry, pushing EV stock prices to unprecedented levels. “We feel, after considering an array of strategic alternatives, that the agreement with Mullen provides our shareholders with the most compelling opportunity,” stated Net Element chairman and CEO Oleg Firer in a recent article discussing the move. “We conducted an extensive search of companies that have disruptive technologies and believe that Mullen represents the best path forward.”
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About Net Element Inc.
Net Element operates a payments-as-a-service transactional and value-added services platform for small to medium enterprise (“SME”) in the United States and selected emerging markets. In the U.S., the company aims to grow transactional revenue by innovating SME productivity services using blockchain technology solutions and Aptito, its cloud-based, restaurant and retail point-of-sale solution. Internationally, Net Element’s strategy is to leverage its omni-channel platform to deliver flexible offerings to emerging markets with diverse banking, regulatory and demographic conditions. Net Element was ranked as one of the fastest-growing companies in North America on Deloitte’s 2017 Technology Fast 500(TM). In 2017 Net Element was recognized by “South Florida Business Journal” as one of 2016’s fastest-growing technology companies. Further information is available at www.NetElement.com.
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