Mullen Automotive Enters Material Agreement, Reports Equity Sales

TL;DR

MULN inked a deal, took on debt, and sold stock on Dec 12th.

AI Summary

Mullen Automotive Inc. entered into a material definitive agreement on December 12, 2024, which also created a direct financial obligation. The company also reported unregistered sales of equity securities on the same date. Mullen Automotive Inc. is incorporated in Delaware and its fiscal year ends on September 30.

Why It Matters

This filing indicates new financial commitments and potential dilution for Mullen Automotive, which could impact its stock price and future operations.

Risk Assessment

Risk Level: medium — The filing details new financial obligations and unregistered equity sales, which can introduce financial risk and dilution concerns.

Key Players & Entities

• Mullen Automotive Inc. (company) — Filer
• December 12, 2024 (date) — Date of earliest event reported
• Delaware (jurisdiction) — State of Incorporation
• September 30 (date) — Fiscal Year End

FAQ

Key Financial Figures

• $0.001 M — ch registered Common Stock, par value $0.001 MULN The Nasdaq Stock Market, LLC (Nas
• $4.4 million — egate principal amount of approximately $4.4 million (or $4.6 million including a 5% origina
• $4.6 million — mount of approximately $4.4 million (or $4.6 million including a 5% original issue discount)
• $0.001 — f the Company's common stock, par value $0.001 per share (the " Common Stock "), and a
• $4.6 m — egate principal amount of approximately $4.6 million, and related Warrants, on the sam

Filing Documents

• mullenautomotive_8k.htm (8-K) — 40KB
• 0001829126-24-008313.txt ( ) — 251KB
• muln-20241212.xsd (EX-101.SCH) — 4KB
• muln-20241212_def.xml (EX-101.DEF) — 26KB
• muln-20241212_lab.xml (EX-101.LAB) — 36KB
• muln-20241212_pre.xml (EX-101.PRE) — 25KB
• mullenautomotive_8k_htm.xml (XML) — 5KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. This following is not a new financing but the issuance of Notes and Warrants under an existing agreement plus an additional investment right. On December 12, 2024, pursuant to the terms of the Securities Purchase Agreement dated May 14, 2024 (the " Securities Purchase Agreement ") between Mullen Automotive Inc. (the " Company ") and certain purchasers, which was previously disclosed in the Company's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 14, 2024 (the " Form 10-Q "), certain investors (the " Investors ") purchased an additional aggregate principal amount of approximately $4.4 million (or $4.6 million including a 5% original issue discount) of 5% Original Issue Discount Senior Secured Notes (the " Notes ") that are convertible into shares of the Company's common stock, par value $0.001 per share (the " Common Stock "), and also received five-year warrants exercisable on a cash basis for an aggregate of 16,862 shares of Common Stock (the " Warrants "). The Notes and Warrants have the same terms and conditions, including a maturity date of four months from the date of issuance of the Notes, as the previously issued Notes and Warrants described in the Form 10-Q. In connection with the purchase of the additional Notes and Warrants, on December 12, 2024, the Company and the Investors entered into an Additional Investment Rights Agreement whereby for a one-year period ending on December 12, 2025, the Investors have the right, but not the obligation, to purchase from the Company additional 5% Original Issue Discount Senior Secured Convertible Notes in an aggregate principal amount of approximately $4.6 million, and related Warrants, on the same terms and conditions as provided in the Securities Purchase Agreement, including the Registration Rights Agreement dated as of May 14, 2024.

03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The disclosure required by this Item is included above in Item 1.01 of this Current Report on Form 8-K and is incorporated herein by reference.

02 Unregistered Sales of Equity Securities

Item 3.02 Unregistered Sales of Equity Securities. The disclosure required by this Item is included above in Item 1.01 of this Current Report on Form 8-K and is incorporated herein by reference. The issuance o the Notes and Warrants have been, and the issuance of additional Notes and Warrants pursuant to the Additional Investment Rights Agreement will be, issued, and upon conversion or exercise thereof, as applicable, the shares of Common Stock will be issued, pursuant to an exemption from the registration requirements of the Securities Act of 1933, as amended (the " Securities Act "), pursuant to the exemption for transactions by an issuer not involving any public offering under Section 4(a)(2) of the Securities Act. 1

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized. MULLEN AUTOMOTIVE INC. Date: December 13, 2024 By: /s/ David Michery David Michery Chief Executive Officer 2

View Full Filing

View this 8-K filing on SEC EDGAR