Net Element (NASDAQ: NETE), a global technology and value-added solutions group, and Mullen Automotive Inc., an emerging electric vehicle (“EV”) manufacturer, has shared updated information regarding a previously announced definitive stock-for-stock reverse merger agreement between the two companies. In the announcement, Mullen noted that the number of fully diluted shares upon completion of the merger will be 32% less than the 75 million shares outlined in the agreement. Following the merger, the number of outstanding shares will be 51,173,640 million in total. “We are excited about the many milestones ahead of us and look forward to sharing those with all our shareholders as they occur,” said Mullen Automotive CEO and chair David Michery in the press release. “Everyone on both ends of the transaction are excited to begin trading tomorrow on the NASDAQ.”
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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. For additional information about the company, visit www.NetElement.com.
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