Replies to post #54276 on Mullen Automotive Inc (MULN)

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https://www.mullenusa.com/

[Magnum7419]

Item 1.01. Entry into a Material Definitive Agreement.


On May 15, 2023, Mullen Automotive Inc. (the “Company”) entered into a Letter Agreement (the “Letter Agreement”) in connection with the Company’s existing securities purchase agreement dated as of June 7, 2022 and amended on June 23, 2022, September 19, 2022, November 15, 2022, and April 3, 2023 (the “Securities Purchase Agreement”). The terms of the Securities Purchase Agreement, including the terms of Series D Convertible Preferred Stock, par value $0.001 per share (the “Series D Preferred Stock”) and warrants, were previously reported in the Company’s Current Report on Form 8-K filed with the SEC on June 10, 2022.



Pursuant to the Letter Agreement, the Company and each of the buyers that are parties to the Securities Purchase Agreement agreed to delay the issuance of Series D Preferred Stock and warrants issuable upon receipt of the remaining $45 million of the commitment amount under the Securities Purchase Agreement from May 15, 2023 to June 12, 2023.



The foregoing summary of the Letter Agreement does not purport to be complete and is subject to, and qualified in its entirety by the full text of the Letter Agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.



Item 3.02. Unregistered Sales of Equity Securities.


The disclosure set forth under Item 1.01 regarding the issuance of Series D Preferred Stock and warrants pursuant to the Securities Purchase Agreement, as amended by the Letter Agreement, is incorporated by reference into this Item 3.02. Such Series D Preferred Stock and warrants 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.



Item 9.01. Financial Statements and Exhibits

https://www.sec.gov/Archives/edgar/data/1499961/000110465923062687/tm2316130d1_8k.htm