Mullen Automotive (MULN) has executed a settlement agreement with GEM Yield Bahamas Limited and GEM Global Yield LLC SCS. Under terms of the settlement agreement, GEM has a 55-day due diligence period, subject to extension by GEM, to evaluate the transfer to GEM of the Mishawaka assets in complete satisfaction of the judgement.
Mullen said it continues to build its business and expand existing Tunica, Mississippi, manufacturing capabilities to meet near and long-term demands for its multiple product lines.
David Michery, CEO and chairman of Mullen Automotive, said: "I look forward to a great rest of 2025 and continued growth thereafter."
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