The EV maker Mullen Automotive held Tuesday its Annual Meeting of shareholders at Nasdaq Building in New York (Full Presentation here). A total of 302,018,291 votes were represented at the Annual Meeting (in person or by proxy) and all the proposals were passed by the shareholders.
Proposal No. 1
To elect three Class I directors to serve for a three-year term ending as of the annual meeting in 2025. Each of the three nominees listed below has been elected to serve as Class I director on the Board of Directors for a three-year term ending as of the annual meeting in 2025 or until their respective successors are elected and qualify.
Proposal No. 2
To approve an amendment to the Company’s Second Amended and Restated Certificate of Incorporation to increase the authorized number of shares of Common Stock to 1.75 billion the authorized number of shares of Preferred Stock to 500 million and in conjunction therewith, to increase the aggregate number of authorized shares to 2.25 billion shares.
Proposal No. 3
To approve the Company’s 2022 Equity Incentive Plan.
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Proposal No. 4
To approve, for purposes of complying with Nasdaq Listing Rule 5635(c), of the issuance of shares of Common Stock to our Chief Executive Officer pursuant to a Performance Stock Award Agreement.
Proposal No. 5
To approve, for purposes of complying with Nasdaq Listing Rule 5635(d), of the potential issuance of Series D Preferred Stock and warrants and shares of Common Stock upon conversion of the Series D Preferred Stock and warrants, and any future adjustments of conversion price of the Series D Preferred Stock and exercise price of the Warrants
Mullen’s VP of Marketing confirmed the EV maker is working on the vans and planning to deliver them again to the F500 company in August.
When asked about the locations of the test drive tour and the timeline for the launch of the first model, Mullen’s VP of Marketing said the test drives will be in private locations regarding the missing certification for the public roads.
“We will do them [late 2022 and early 2023 Test Drives] in private locations like tracks, stadium parking lots, and things like that to allow the customers to drive the vehicles. Those vehicles will be not certified yet [for the public roads].
“Our plan is to start production of the FIVE [model] in 2024 and the vehicles will be available in 2025. So the road-ready vehicles that are certified by the Department of Transportation […] and all the certifications you need will be sometime in that range”.