Mullen Automotive Inc.
05/13/2025 | Press release | Distributed by Public on 05/13/2025 06:30
Material Event (Form 8-K)
| Item 8.01 | Other Events. |
On May 9, 2025, Mullen Automotive Inc. (the "Company") entered into a Settlement Agreement and Release (the "Settlement Agreement") with GEM Yield Bahamas Limited and GEM Global Yield LLC SCS (together, "GEM"). Under the terms of the Settlement Agreement, GEM has a 55-day due diligence period, subject to extension by GEM, to evaluate the transfer by the Company to GEM of the Mishawaka assets in complete satisfaction of the judgement. All collection activities pursuant to the judgement have been suspended for the duration of the due diligence period.
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