Form S-4 Registration Statement for Proposed Merger of Net Element with Mullen Automotive is Declared Effective by the SEC
28 July 2021 - 7:30AM
via InvestorWire – Net Element, Inc.
(NASDAQ:NETE) ("Net Element" or the "Company"), a
global technology and value-added solutions group that supports
electronic payments, announced today that in connection with the
proposed merger of the Company with Mullen Automotive, Inc.
(“Mullen”), a privately-held Southern California-based electric
vehicle (EV) company (the “Merger”) the registration statement on
Form S-4 (File No. 333-256166) (the “Registration Statement”) was
declared “effective” by the U.S. Securities and Exchange Commission
(the “SEC”) on July 26, 2021.
A Special Meeting of Net Element stockholders to
vote on the Merger is scheduled to be held in person on August 26,
2021 at 11:00 a.m. Eastern Standard Time at 3363 NE 163rd Street,
Suite 606, North Miami Beach, Florida 33160. Net Element
stockholders of record as of close of business on July 16, 2021 are
entitled to vote at the Special Meeting. The Merger is expected to
close, as soon as practical, following receipt of the required
stockholder approvals and the fulfillment of all other closing
conditions referenced in the second amended and restated merger
agreement previously filed with the SEC.
The Registration Statement containing the proxy
statement/prospectus/information statement is available through the
SEC’s website at www.sec.gov. Net Element commenced mailing of
the proxy statement/prospectus to stockholders on July 26.
Stockholders holding shares in brokerage accounts should receive
proxy statements/prospectuses/information statement from their
broker. The proxy statement/prospectus/information statement
provides important information about the proposed Merger, as well
as voting instructions.
About Net ElementNet Element,
Inc. (NASDAQ:NETE) operates a payments-as-a-service transactional
and value-added services platform for small to medium enterprise
("SME") in the U.S. and selected emerging markets. In the U.S., the
Company aims to grow transactional revenue by innovating SME
productivity services using blockchain technology solutions and
Aptito, our cloud-based, restaurant and retail point-of-sale
solution. Internationally, Net Element's strategy is to leverage
its omni-channel platform to deliver flexible offerings to emerging
markets with diverse banking, regulatory and demographic
conditions. Net Element was ranked as one of the fastest growing
companies in North America on Deloitte's 2017 Technology Fast 500™.
In 2017 we were recognized by South Florida Business Journal as one
of 2016's fastest-growing technology companies. Further information
is available at www.NetElement.com.
Forward-Looking
StatementsSecurities Exchange Act of 1934, as amended. Any
statements contained in this press release that are not statements
of historical fact may be deemed forward-looking statements. Words
such as "continue," "will," "may," "could," "should," "expect,"
"expected," "plans," "intend," "anticipate," "believe," "estimate,"
"predict," "potential," and similar expressions are intended to
identify such forward-looking statements. All forward-looking
statements involve significant risks and uncertainties that could
cause actual results to differ materially from those expressed or
implied in the forward-looking statements, many of which are
generally outside the control of Net Element and are difficult to
predict. Examples of such risks and uncertainties include but are
not limited to whether the proposed Mullen merger will be
consummated, and if so, what impact or resultant benefits, if any,
the merger will have on the Company and its stockholders.
Additional examples of such risks and uncertainties include, but
are not limited to (i) Net Element's ability (or inability) to
obtain additional financing in sufficient amounts or on acceptable
terms when needed; (ii) Net Element's ability to maintain existing,
and secure additional, contracts with users of its payment
processing services; (iii) Net Element's ability to successfully
expand in existing markets and enter new markets; (iv) Net
Element's ability to successfully manage and integrate any
acquisitions of businesses, solutions or technologies; (v)
unanticipated operating costs, transaction costs and actual or
contingent liabilities; (vi) the ability to attract and retain
qualified employees and key personnel; (vii) adverse effects of
increased competition on Net Element's business; (viii) changes in
government licensing and regulation that may adversely affect Net
Element's business; (ix) the risk that changes in consumer behavior
could adversely affect Net Element's business; (x) Net Element's
ability to protect its intellectual property; (xi) local, industry
and general business and economic conditions; and (xii) adverse
effects of potentially deteriorating U.S.-Russia relations,
including, without limitation, over a conflict related to Ukraine,
including a risk of further U.S. government sanctions or other
legal restrictions on U.S. businesses doing business in Russia.
Additional factors that could cause actual results to differ
materially from those expressed or implied in the forward-looking
statements can be found in the most recent annual report on Form
10-K, quarterly reports on Form 10-Q and current reports on Form
8-K filed by Net Element with the Securities and Exchange
Commission. Net Element anticipates that subsequent events and
developments may cause its plans, intentions and expectations to
change. Net Element assumes no obligation, and it specifically
disclaims any intention or obligation, to update any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as expressly required by
law.
Contact: Net Element, Inc. +1 (786) 923-0502
www.netelement.com Media@NetElement.com
Corporate Communications:InvestorBrandNetwork
(IBN) Los Angeles, California www.InvestorBrandNetwork.com
310.299.1717 Office Editor@InvestorBrandNetwork.com
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