Mullen Automotive Boosts Equity Plan for Growth

The latest announcement is out from Mullen Automotive ( (MULN) ).

On May 16, 2025, Mullen Automotive Inc. entered into a securities purchase agreement with an investor to raise approximately $1.6 million through 5% Original Issue Discount Secured Notes, which are convertible into common stock and accompanied by five-year warrants. The agreement allows the investor to purchase additional notes worth up to $4.7 million over the next year, while the company has committed to certain restrictions on issuing new equity or engaging in fundamental transactions during a specified period. Additionally, on May 21, 2025, the company’s stockholders approved an amendment to increase the shares available under its 2022 Equity Incentive Plan by 15 million shares, reflecting a strategic move to enhance its equity structure and support future growth initiatives.

Spark’s Take on MULN Stock

According to Spark, TipRanks’ AI Analyst, MULN is a Underperform.

The overall score is driven by severe financial instability, negative technical analysis indicators, and unattractive valuation metrics. The financial performance poses the greatest risk with unsustainable losses and liquidity issues. Technical analysis suggests bearish momentum, while corporate events offer only minor strategic adjustments. The company’s financial and operational challenges significantly impact its stock’s potential performance.

To see Spark’s full report on MULN stock, click here.

More about Mullen Automotive

Mullen Automotive Inc. operates in the automotive industry, focusing on the development and manufacturing of electric vehicles. The company is involved in producing innovative electric cars and aims to enhance its market presence through strategic partnerships and financial agreements.

Average Trading Volume: 15,850,098

Technical Sentiment Signal: Sell

Current Market Cap: $8.87M

Find detailed analytics on MULN stock on TipRanks’ Stock Analysis page.