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Mullen Automotive | S-1: General form for registration of securities under the Securities Act of 1933

SEC announcement ·  May 20 17:21
Summary by Moomoo AI
On May 20, 2024, Mullen Automotive Inc. filed with the U.S. Securities and Exchange Commission (SEC) to register shares for resale by certain investors. The filing includes a securities purchase agreement with investors who agreed to purchase $52.6 million of 5% Original Issue Discount Senior Secured Notes convertible into shares of common stock and five-year warrants exercisable for shares of common stock. Upon execution, investors purchased an initial $13.2 million of notes and received warrants, with an obligation to purchase an additional $39.5 million of notes and related warrants if certain conditions are met. The investors also have the right to purchase an additional $52.6 million of notes and related warrants within a year, subject to conditions. The registration statement includes various legal documents, agreements...Show More
On May 20, 2024, Mullen Automotive Inc. filed with the U.S. Securities and Exchange Commission (SEC) to register shares for resale by certain investors. The filing includes a securities purchase agreement with investors who agreed to purchase $52.6 million of 5% Original Issue Discount Senior Secured Notes convertible into shares of common stock and five-year warrants exercisable for shares of common stock. Upon execution, investors purchased an initial $13.2 million of notes and received warrants, with an obligation to purchase an additional $39.5 million of notes and related warrants if certain conditions are met. The investors also have the right to purchase an additional $52.6 million of notes and related warrants within a year, subject to conditions. The registration statement includes various legal documents, agreements, and the company's amended and restated certificate of incorporation. The shares may be sold through various methods, including on exchanges, in over-the-counter transactions, or through broker-dealers. The company will not receive proceeds from the sale of shares by the selling stockholders but may receive proceeds from any exercise of warrants. The filing also includes indemnification agreements for directors and officers, details on the company's equity incentive plan, and recent sales of unregistered securities.

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