Mullen Automotive, Inc. announced that it has entered into a security purchase agreement to issue promissory notes for the aggregate gross proceeds of $20 million on April 4, 2023. The Promissory notes bear interest at a rate of 15% per annum, which increases to 20% per annum if payments under the Promissory notes are not paid when due. The principal and interest under the Promissory Notes is due and payable on April 17, 2023.
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- Mullen Automotive, Inc. announced that it expects to receive $20 million in funding