$MULN Q/Q cash and cash equivalents rose to +$65.2M, driven primarily by the issuance of Mullen’s Series C Preferred Stock at $8.84/share Notes payable, current portion fell approximately -10.8% Q/Q to $16.9M Total assets rose approximately 138.4% to slightly over +$100M, driven mainly by financing activities Stockholders’ equity rose favorably Q/Q from a deficit of -$10.5M to a surplus of +$52.6M Subsequent to the period ended March 31, 2022, Mullen Automotive Inc. entered into an agreement with Thurner Design to develop the Mullen FIVE RS, a high-performance EV sport crossover vehicle featuring close to 1,100 HP, 0-60 mph in 1.95 seconds, and a top speed of 200 mph Between late April and early May 2022 Mullen Automotive received an aggregate of $15M from the exercise of the CEOcast equity line of credit in exchange for warrants to acquire common stock. CEOcast has exercised its warrants for 12.7M common shares extinguishing this credit facility.
1
5
5 Likes