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MissionIRNewsBreaks – Mullen Automotive Inc. (NASDAQ: MULN) Expects to Report >$61M in Cash, Cash Equivalents After Significantly Strengthening Balance Sheet

Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, today announced that it expects to report in excess of $61 million in cash and cash equivalents on June 30, 2022, after having significantly strengthened its balance sheet over the quarter-ending June 30, 2022. In the update, Mullen restated previously released highlights, including recent delivery of its first EV van under a pilot program to a telecommunications provider in the southeastern part of the U.S., payoff of a secured convertible promissory note executed on July 23, 2020, with DBI Lease Buyback Servicing LLC, as well as the company’s addition to the U.S. small-cap Russell 2000(R) Index. In addition, Mullen reached an agreement, subject to approval by company shareholders, to secure $275 million in additional funding for the company. If shareholder approval is obtained, a portion of the funding is expected to be used for the EV Cargo Van Class 1-4 program, the FIVE EV Crossover and the FIVE RS high-performance vehicle program development. “We’ve made solid progress over the past quarter,” said David Michery, CEO and chairman of Mullen Automotive. “The company’s balance sheet is the strongest it has ever been in our history.”

To view the full news release, visit

About Mullen Automotive Inc.

Mullen is a Southern California-based automotive company that owns and partners with several synergistic businesses working toward the unified goal of creating clean and scalable energy solutions. Mullen has evolved over the past decade in sync with consumers and technology trends. Today, the company is working diligently to provide exciting EV options built entirely in the United States and made to fit perfectly into the American consumer’s life. Mullen strives to make EVs more accessible than ever by building an end-to-end ecosystem that takes care of all aspects of EV ownership. For more information about the company, visit

NOTE TO INVESTORS: The latest news and updates relating to MULN are available in the company’s newsroom at

About MissionIRNewsBreaks

MissionIRNewsBreaks provide a rapid summary of corporate news that catch the attention of MissionIR. MissionIRNewsBreaks are created by our Team of professional journalists that keep a constant eye on the markets, these posts are designed to inform you on the latest happenings of our clients and other publicly traded companies on our radar. From earnings, acquisitions and agreements to conference attendance and clinical study results, our news breaks keep you up-to-date with the day’s top movers. MissionIR is primarily focused on strategic communications. We have executed countless communications programs to address the needs of companies ranging from start-ups to established industry leaders, gaining valuable experience and the expertise necessary to determine the most effective strategy for any given situation.

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