announced Mary Winter, Director of Mullen Automotive Inc. (NASDAQ:), recently announced the sale of shares in the company for a total value of $109,022. The stock, which is currently trading at $0.83, has seen a significant decline of 99.94% over the past year according to InvestingPro Data. The transactions, disclosed in a Securities and Exchange Commission filing, occurred at prices ranging from $33.90 to $678.00 per share. Following these sales, Winter retains ownership of 163,001 shares, including the recent acquisition of 175,000 shares granted under the company's 2022 stock incentive plan. These transactions reflect adjustments following the reverse stock splits conducted by Mullen Automotive in December 2023 and September 2024. At a market value of With only $7.32 million and poor financial health, InvestingPro Subscribers can access 19 additional key insights into MULN's financial position before its next earnings report on January 17.
In other recent news, Mullen Automotive has made notable strides in its operations, with a significant increase in electric vehicle sales and a decrease in monthly expenses. The company generated $5.5 million in revenue from the sale of 100 Class 1 and 3 EV trucks and cargo vans. Mullen Automotive also secured an additional $4.4 million in financing through the issuance of high-quality senior secured convertible notes and related warrants.
The company also expanded its battery production plans in the United States, allocating $12 million to develop and manufacture batteries. Bollinger Motors of Mullen Automotive has expanded its national dealer network into the Mid-Atlantic and Midwest regions.
Additionally, Mullen Automotive issued new convertible bonds and warrants, part of the company's efforts to raise capital to support its operations and growth strategies. The company also reached a settlement agreement regarding the derivative lawsuit against it, agreeing to implement governance improvements and pay attorneys' fees.
Additionally, Mullen Automotive has received significant orders for its electric commercial vehicles from Associated Coffee and TEC Equipment. The company also announced strategic partnerships with Emerald Transportation Solutions and National Auto Fleet Group. These are the latest developments from Mullen Automotive.
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