Mullen Automotive announces 1-for-60 reverse stock split effective Feb. 18, 2025 to meet Nasdaq bid price rule

BOLLINGER INNOVATIONS, INC.

Reverse stock split at 1-for-60 ratio, effective Feb. 18, 2025; shares begin trading on split-adjusted basis that day.
Split aims to bring common stock above Nasdaq's $1.00 minimum bid price requirement; no guarantee of compliance.
Stockholders approved reverse split (1-for-2 to 1-for-100 range) at Jan. 31, 2025 special meeting; board selected 1-for-60.
No fractional shares issued; fractional shares rounded up to whole share. Warrants, notes, and preferred stock adjusted proportionally.
CUSIP changes to 62526P604; ticker remains MULN; authorized shares and par value unchanged.

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Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

BOLLINGER INNOVATIONS, INC.: Certificate of Amendment to Second Amended and Restated Certificate of Incorporation filed to effect a 1-for-60 reverse stock split (effective 2025-02-18).

Change: charter amendment
Effective: 2025-02-18

Exact text from the filing

On January 31, 2025, Mullen Automotive Inc. (the “ Company ”) held a Special Meeting of Stockholders, which approved a proposal to authorize a reverse stock split of the common stock, par value $0.001 per share (the “ Common Stock ”) of the Company at a ratio within the range of 1-for-2 to 1-for-100, as determined by the Board of Directors of the Company (the “ Board ”). The Board approved a one-for-sixty (1-for-60) reverse stock split ratio and, on February 14, 2025, the Company filed a Certificate of Amendment (the “ Amendment ”) to its Second Amended and Restated Certificate of Incorporation with the Secretary of State of the State of Delaware to effect the reverse stock split of its Common Stock (the “ Reverse Stock Split ”).

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Source: SEC EDGAR

accession 0001829126-25-001069

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