Brief: Mullen Automotive Entered Into A "Stalking Horse" Asset Purchase Agreement With David W. Carickhoff And Electric Last Mile

Electric Last Mile Solutions

19/09/2022 22:20

Sept 19 (Reuters) - Electric Last Mile Solutions Inc
 ELMSQ.PK :
    * MULLEN AUTOMOTIVE - ON SEPT 16, 2022, CO ENTERED INTO A
"STALKING HORSE" ASSET PURCHASE AGREEMENT WITH DAVID W.
CARICKHOFF AND ELECTRIC LAST MILE INC.
    * MULLEN AUTOMOTIVE - TO BUY CERTAIN ASSETS OF DEBTORS OUT
OF
BANKRUPTCY FOR ABOUT $55.0 MILLION PLUS ASSUMPTION OF MONETARY
LIABILITIES
    * MULLEN AUTOMOTIVE INC - MONETARY LIABILITIES RELATED TO
ASSUMED
CONTRACTS, INCLUDING LAND CONTRACT, ESTIMATED TO BE ABOUT $37
MILLION
    * MULLEN AUTOMOTIVE - PURSUANT TO AGREEMENT, CO AGREED TO
PURCHASE
CERTAIN ASSETS OF DEBTORS, INCLUDING A PLANT IN MISHAWAKA,
INDIANA
    * MULLEN AUTOMOTIVE INC - PROVIDED A DEPOSIT OF $5.5
MILLION,
WHICH WILL BE APPLIED TOWARDS PURCHASE PRICE

Further company coverage:  ELMSQ.PK