![]() The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines. On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. Meanwhile, the Wachs Trust can resell 53.22 million shares, and Davis-Rice can resell 22.89 million shares.Īs warned by Mullen, this resale means that millions of shares of MULN stock will likely hit the market, which can have dilutive effects on shareholders. Acuitas is eligible to resell 161.17 million shares. So, who exactly are the selling stockholders? The three largest selling stockholders with respect to the maximum number of shares of common stock to be sold pursuant to the resale are Acuitas Capital, the Michael Wachs 2022 Dynasty Trust, and Davis-Rice Pty Limited. In the Risk Factors section of the resale, the company warned that “Our outstanding shares of convertible preferred stock contain anti-dilution protection, which may cause significant dilution to our stockholders.” Additionally, it said “Our commitments to issue shares of Common Stock or securities that are convertible into shares of Common Stock may cause significant dilution to our stockholders.” Meanwhile, Mullen will not receive any proceeds from the sale of common stock by its selling stockholders. This resale includes common stock issuable upon the exercise of pre-funded warrants and warrants. On top of that, Mullen announced a resale of up to 242.12 million shares of common stock this morning. ADPs current ratio at the end of third-quarter fiscal 2023 was pegged at 1.00, lower than the current ratio of 1.01 reported at the end of third-quarter fiscal 2022. Mullen Receives $20 Million Cash Infusion, Announces Resale of MULN Stock
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