Mullen Automotive Says Co Has Not Issued Any New Warrants & No Existing Warrants Have Been Exercised Since Reverse Stock Split Effected On Dec 21, 2023
Portfolio Pulse from Benzinga Newsdesk
Mullen Automotive has confirmed that no new warrants have been issued and no existing warrants have been exercised since the reverse stock split on December 21, 2023.
January 19, 2024 | 5:38 pm
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NEUTRAL IMPACT
Mullen Automotive's announcement may reassure investors, potentially stabilizing the stock price after the reverse stock split.
The company's clarification regarding the non-issuance and non-exercise of warrants since the reverse stock split could ease investor concerns about potential dilution or unexpected changes in the number of shares outstanding. This could lead to a neutral to slightly positive impact on the stock price in the short term, as it removes some uncertainty.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100