Mullen Automotive Inc., an emerging electric vehicle (“EV”) manufacturer, which previously announced a definitive stock-for-stock reverse merger agreement with Net Element (NASDAQ: NETE) in which Mullen’s stockholders will receive a majority of the outstanding stock in the post-merger company, today announced its receipt of conditional approval to list the company’s common stock on the Nasdaq Stock Market LLC after satisfaction of the conditions established by Nasdaq. According to the update, trading will commence on Nov. 5, 2021, at which time the company’s name will be changed to Mullen Automotive Inc. under the ticker symbol MULN. In addition, the company issued a reminder that it will debut to the world, for the first time, the FIVE EV crossover on Nov. 17, 2021, at the LA Auto Show. Built on an EV crossover skateboard platform, the FIVE offers multiple powertrain configurations and trim levels in a svelte design that is Strikingly Different(TM) and exciting to experience in person.
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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 enterprises (“SMEs”) in the U.S. and select emerging markets. Net Element previously announced the execution of a definitive agreement to merge with privately held Mullen Automotive Inc., a Southern California-based electric vehicle company in a stock-for-stock reverse merger in which Mullen’s stockholders will receive a majority of the outstanding stock in the post-merger company (the “contemplated merger”). The contemplated merger is subject to customary closing conditions and regulatory approvals. For additional information, visit www.NetElement.com.
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