Mullen Automotive Files S-1 Registration

TL;DR

Mullen Automotive just filed an S-1, get ready for new shares.

AI Summary

Mullen Automotive Inc. filed an S-1 registration statement on May 20, 2024, to register an unspecified number of securities. The company, formerly known as Net Element, Inc., is based in Brea, California, and is involved in the automotive industry. David Michery serves as President, CEO, and Chairman.

Why It Matters

This S-1 filing indicates Mullen Automotive is preparing to offer new securities, which could impact its capital structure and stock price.

Risk Assessment

Risk Level: high — S-1 filings often precede stock offerings, which can dilute existing shareholders and are common for companies seeking capital, suggesting potential financial challenges or growth ambitions.

Key Numbers

• 333-279565 — SEC File Number (Identifies the specific registration statement with the SEC.)
• 0001829126-24-003557 — Accession Number (Unique identifier for this specific SEC filing.)

Key Players & Entities

• MULLEN AUTOMOTIVE INC. (company) — Registrant
• 0001829126-24-003557 (filing_id) — Accession Number
• 20240520 (date) — Filing Date
• Net Element, Inc. (company) — Former Company Name
• David Michery (person) — President, CEO and Chairman
• 1405 Pioneer Street, Brea, California 92821 (address) — Principal Executive Offices
• 333-279565 (filing_id) — SEC File Number

FAQ

Key Financial Figures

• $0.001 — ”) of our common stock, par value $0.001 per share (“ Common Stock ”
• $4.86 — stock on The Nasdaq Capital Market was $4.86 per share. We are a “smaller rep
• $3.5 million — purchased the assets of Romeo Power for $3.5 million. This included battery production lines
• $52.6 million — rchase an aggregate principal amount of $52.6 million of 5% Original Issue Discount Senior Se
• $13.2 m — n initial aggregate principal amount of $13.2 million, or $12.5 million including the 5
• $12.5 million — e principal amount of $13.2 million, or $12.5 million including the 5% original issue discoun
• $39.5 m — chase an additional principal amount of $39.5 million, or $37.5 million including the 5
• $37.5 million — l principal amount of $39.5 million, or $37.5 million including the 5% original issue discoun
• $3 million — ock has average daily trading volume of $3 million in the previous 10 trading days, (iii)
• $5 — ote Shares ”) at the lower of (i) $5.49, (ii) 95% of the closing sale price
• $1.16 — conversion price will not be less than $1.16 per share. In connection with the iss
• $700 million — ock held by non-affiliates is less than $700 million and our annual revenue is less than $10
• $100 million — ion and our annual revenue is less than $100 million during the most recently completed fisc
• $250 million — ock held by non-affiliates is less than $250 million as of the last business day of our seco

Filing Documents

• mullenautomotive_s1.htm (S-1) — 703KB
• mullenautomotive_ex5-1.htm (EX-5.1) — 15KB
• mullenautomotive_ex23-1.htm (EX-23.1) — 2KB
• mullenautomotive_ex23-2.htm (EX-23.2) — 3KB
• mullenautomotive_ex107.htm (EX-FILING FEES) — 22KB
• img_001.jpg (GRAPHIC) — 6KB
• ex5-1_001.jpg (GRAPHIC) — 5KB
• ex23-1_001.jpg (GRAPHIC) — 14KB
• 0001829126-24-003557.txt ( ) — 780KB

USE OF PROCEEDS

USE OF PROCEEDS 7 PRIVATE PLACEMENT OF NOTES AND WARRANTS 8 SELLING STOCKHOLDERS 13

DESCRIPTION OF SECURITIES

DESCRIPTION OF SECURITIES 15 PLAN OF DISTRIBUTION 24 LEGAL MATTERS 26 EXPERTS 26 WHERE YOU CAN FIND MORE INFORMATION 26 INFORMATION INCORPORATED BY REFERENCE 27 i Table of Contents ABOUT THIS PROSPECTUS This prospectus is part of a registration statement on Form S-1 that we filed with the U.S. Securities and Exchange Commission (the “ SEC ”). Under this registration process, the Selling Stockholders may, from time to time, sell the securities offered by them described in this prospectus. We will not receive any proceeds from the sale by the Selling Stockholders of the securities offered by them described in this prospectus, other than any proceeds from any cash exercise of the Warrants. We may also file a prospectus supplement or post-effective amendment to the registration statement of which this prospectus forms a part that may contain material information relating to this offering. The prospectus supplement or post-effective amendment may also add, update or change information contained in this prospectus. If there is any inconsistency between the information in this prospectus and the applicable prospectus supplement or post-effective amendment, you should rely on the prospectus supplement or post-effective amendment, as applicable. Before purchasing any securities, you should carefully read this prospectus, any post-effective amendment, and any applicable prospectus supplement, together with the additional information described under the headings “ Where You Can Find More Information ” and “ Information Incorporated By Reference .” Neither we nor the Selling Stockholders have authorized anyone to provide you with any information or to make any representations other than those contained, or incorporated by reference, in this prospectus, any post-effective amendment, or any applicable prospectus supplement prepared by or on behalf of us or to which we have referred you. We and the Selling Stockh

View Full Filing

View this S-1 filing on SEC EDGAR