UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
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| Item 1.01. | Entry into a Material Definitive Agreement. |
On May 28, 2025, Mullen Automotive Inc. (the “Company”) entered into a Settlement and Release Agreement (the “Settlement Agreement”) with Robert Bollinger (“Lender”) and the receiver (the “Receiver”) for Bollinger Motors, Inc. (“Bollinger”). The Settlement Agreement relates to the lawsuit filed in the U.S. District Court for the Eastern District of Michigan on March 21, 2025 by the Lender, who alleged a breach of contract related to a $10.0 million secured promissory note executed on October 24, 2024, and the appointment of the Receiver on May 7, 2025. Pursuant to the Settlement Agreement, the Company agreed to pay the Lender $11 million in connection with the dismissal of the Lawsuit and release of the Company and Bollinger of all claims and liabilities. The Company also agreed to pay all expenses of the Receiver incurred beginning on May 26, 2025. Furthermore, the Lender agreed to transfer to the Company all shares he owns of Bollinger, which increased the Company’s ownership of Bollinger to 95%. On June 2, 2025, the court entered an order discharging and removing the Receiver and dismissing the Lawsuit with prejudice.
| Item 1.02. | Termination of a Material Definitive Agreement. |
The information set forth in Item 1.01 above is incorporated by reference herein in response to this Item.
| Item 7.01. | Regulation FD Disclosure. |
On June 2, 2025, the Company issued a press release, a copy of which is furnished as Exhibit 99.1 to this report and incorporated herein by reference.
The information in this Item 7.01 and Exhibit 99.1 attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.
| Item 9.01 | Exhibits. |
(d) Exhibits
| Exhibit No. | Description | |
| 99.1 | Press release dated June 2, 2025 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.
| MULLEN AUTOMOTIVE INC. | ||
| Date: June 2, 2025 | By: | /s/ David Michery |
| David Michery | ||
| Chief Executive Officer | ||
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