Mullen Automotive, Inc. (NasdaqCM:MULN) acquired 35.3% stake in Bollinger Motors, LLC from Robert Bollinger on September 7, 2022. Consideration will be in cash amounting $8.029818 million, equity amounting to $33.082852 million and earnout payment of $16.059637 million. The deal has been funded or placed in escrow as required by the transaction documents and brings and look forward to updating the shareholders with the positive outcomes resulting from this transaction.

Mullen Automotive, Inc. (NasdaqCM:MULN) completed the acquisition of 35.3% stake in Bollinger Motors, LLC from Robert Bollinger on September 7, 2022.