Mullen Automotive, Inc. (NasdaqCM:MULN) acquired 4.0995% stake in Bollinger Motors, Inc. from Seaport Global Asset Management SPV LLC - Series A managed by Seaport Global Asset Management LLC for $11.1 million on September 7, 2022. On the Closing Date, the Purchaser will pay $1,567,554 to the Seller. Immediately prior to the Closing, the Purchaser shall deposit $3,135,108 of the Cash Consideration with the Escrow Agent to be held in a cash escrow account pursuant to the terms of the Cash Escrow Agreement. The $3,135,108 deposited into the Cash Escrow Account will be automatically released. Mullen will also issue shares consideration worth $6,458,322 by a price per share equal to the five (5) trading day volume weighted average price.

Mullen Automotive, Inc. (NasdaqCM:MULN) completed the acquisition of 4.0995% stake in Bollinger Motors, Inc. from Seaport Global Asset Management SPV LLC - Series A managed by Seaport Global Asset Management LLC on September 7, 2022.