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Monday, August 08, 2022 8:09:45 AM
Amendment of the bylaws. An amendment of the bylaws by stockholders requires the affirmative vote of the holders of at least a majority of the outstanding voting stock."
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Concentrated Voting Power. Shares of our Series A Preferred Stock have 1,000 votes per share, while shares of our Series B and Series C Preferred Stock and Common Stock have one vote per share. David Michery, Mullen founder and Chief Executive Officer, holds substantially all of the issued and outstanding shares of Mullen’s Series A Preferred Stock. Accordingly, Mr. Michery holds approximately 73% of the voting power of our capital stock. As such, Mr. Michery is able to control or exert significant influence over matters submitted to our stockholders for approval, including the election of directors, amendments of our organizational documents and any merger, consolidation, sale of all or substantially all of our assets or other major corporate transactions. Mr. Michery may have interests that differ from yours and may vote in a way with which you disagree, and which may be adverse to your interests. This concentrated control may have the effect of delaying, preventing or deterring a change in control of our company, could deprive our stockholders of an opportunity to receive a premium for their capital stock as part of a sale of our company, and might ultimately affect the market price of shares of our Common Stock.
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We are subject to the provisions of Section 203 of the Delaware General Corporation Law, an anti-takeover law. Subject to certain exceptions, the statute prohibits a publicly held Delaware corporation from engaging in a “business combination” with an “interested stockholder” for a period of three years after the date of the transaction in which the person became an interested stockholder unless:
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prior to such date, the board of directors of the corporation approved either the business combination or the transaction which resulted in the stockholder becoming an interested stockholder;
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upon consummation of the transaction which resulted in the stockholder becoming an interested stockholder, the interested stockholder owned at least eighty-five percent 85% of the voting stock of the corporation outstanding at the time the transaction commenced, excluding for purposes of determining the number of shares outstanding those shares owned (1) by persons who are directors and also officers and (2) by employee stock plans in which employee participants do not have the right to determine confidentially whether shares held subject to the plan will be tendered in a tender or exchange offer; or
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on or after such date, the business combination is approved by the board of directors and authorized at an annual or special meeting of stockholders, and not by written consent, by the affirmative vote of at least sixty-six and two-thirds percent 66 2/3% of the outstanding voting stock that is not owned by the interested stockholder.
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Generally, for purposes of Section 203, a “business combination” includes a merger, asset or stock sale, or other transaction resulting in a financial benefit to the interested stockholder. An “interested stockholder” is a person who, together with affiliates and associates, owns or, within three (3) years prior to the determination of interested stockholder status, owned fifteen percent (15%) or more of a corporation’s outstanding voting securities."
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Recent MULN News
- BOLLINGER MOTORS ACHIEVES CARB CERTIFICATION, A CRITICAL STEP IN BECOMING SALES-READY • PR Newswire (US) • 09/09/2024 01:30:00 PM
- Mullen Subsidiary, Bollinger Motors, Achieves CARB Certification; A Critical Step in Becoming Sales Ready • GlobeNewswire Inc. • 09/09/2024 01:15:00 PM
- Form S-1 - General form for registration of securities under the Securities Act of 1933 • Edgar (US Regulatory) • 09/06/2024 09:21:01 PM
- BOLLINGER MOTORS AGREES TO PARTNERSHIP WITH TEXAS CONSULTING & DEVELOPMENT • PR Newswire (US) • 09/05/2024 02:15:00 PM
- Mullen Subsidiary, Bollinger Motors, Agrees to Partnership with Texas Consulting & Development • GlobeNewswire Inc. • 09/05/2024 01:15:00 PM
- Mullen Automotive Ships Initial Commercial EVs Under $210M Purchase Contract with Volt Mobility • GlobeNewswire Inc. • 09/04/2024 01:15:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/30/2024 09:15:19 PM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 08/30/2024 09:00:13 PM
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- Mullen Subsidiary, Bollinger Motors, Adds 20 TEC Equipment Dealerships to Commercial EV Network • GlobeNewswire Inc. • 08/29/2024 01:15:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/26/2024 01:33:20 PM
- Volt Mobility Enters into $210 Million Contract with Mullen Automotive to Purchase 3,000 Class 1 and Class 3 EV Cargo Vans and Trucks • GlobeNewswire Inc. • 08/26/2024 01:30:00 PM
- Form 424B3 - Prospectus [Rule 424(b)(3)] • Edgar (US Regulatory) • 08/24/2024 01:11:53 AM
- Bollinger Motors Announces Bollinger B4 Start of Production Sept. 16, 2024 • PR Newswire (US) • 08/21/2024 01:30:00 PM
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- Form DEF 14A - Other definitive proxy statements • Edgar (US Regulatory) • 08/21/2024 11:52:14 AM
- Mullen Announces Princeton University’s Facilities Operations’ Class 3 EV Truck Order for Campus Operations • GlobeNewswire Inc. • 08/19/2024 01:15:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/12/2024 08:53:35 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/12/2024 08:23:56 PM
- Mullen Reports Financial Results for the Three and Nine Months Ended June 30, 2024 • GlobeNewswire Inc. • 08/12/2024 07:00:00 PM
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- Form PRE 14A - Other preliminary proxy statements • Edgar (US Regulatory) • 08/09/2024 09:31:55 PM
- Mullen Announces Its Dealer Eco Auto’s Expansion and Purchase of 180 Commercial EVs • GlobeNewswire Inc. • 08/08/2024 01:15:00 PM
- Mullen Announces Promotion of John Taylor to President of Commercial EV Division • GlobeNewswire Inc. • 08/07/2024 01:15:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/06/2024 03:01:04 PM
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