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lukin4winners

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lukin4winners

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Wednesday, 11/02/2022 8:20:57 AM

Wednesday, November 02, 2022 8:20:57 AM

Post# of 648146
MULN news debt reduction! BREA, Calif., Nov. 02, 2022 (GLOBE NEWSWIRE) -- via InvestorWire -- Mullen Automotive, Inc. (NASDAQ: MULN) (“Mullen” or the “Company”), an emerging electric vehicle (“EV”) manufacturer, announces today that it has eliminated $13 million in company debt and has reduced its overall indebtedness from more than $30 million last year to a current estimate of less than $10 million.

Mullen continues to strengthen its financial balance sheet with the recent elimination of approximately $13 million dollars in company debt, which was associated with a debt obligation to Esousa Holdings, LLC. It is anticipated that this debt conversion will save the Company more than $3.5 million in interest expenses.
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