Net Element Shares Gain On SEC's Approval Of Mullen Automotive Merger

Emerging electric vehicle manufacturer Mullen Automotive, Inc declared the SEC ratifying the Net Element NETE merger.
The SEC has declared effective the S-4 registration statement of the shares of the merger.
The shareholders and boards of both companies have approved the deal.
Mullen is awaiting a final response from NASDAQ regarding compliance with its listing standards.
Mullen previously announced a definitive stock-for-stock reverse merger agreement with Net Element. Mullen's stockholders will receive a majority of the outstanding stock in the post-merger company.
Meanwhile, Mullen will be debuting the FIVE EV Crossover this coming November 2021 at the Los Angeles International Auto Show.
Price Action: NETE shares closed higher by 1.77% at $9.19 on Monday.