05:50 PM EDT, 06/25/2024 (MT Newswires) -- Mullen Automotive ( MULN ) filed late on Tuesday a preliminary prospectus for a potential secondary offering of up to 75 million shares of common stock.

The offer and sale from time to time will be by Esousa Holdings, as per the prospectus.

The company will neither sell any shares nor receive any proceeds from the sale in this offering. However, the purchase agreement allows the company to sell up to $150 million of its common stock to the selling stockholder.

Shares of the company fell more than 1% in after-hours activity.