SCHEDULE 13G/A: Esousa Entities Disclose 9.9% Beneficial Stake in Mullen Automotive Inc.
Amendment to Beneficial Ownership Statement (Schedule 13G/A)
Esousa Holdings LLC, Michael Wachs, and Esousa Group Holdings LLC have disclosed a combined 9.9% beneficial ownership stake in Mullen Automotive Inc. as of December 31, 2024.
Summary
- Esousa Holdings LLC, Michael Wachs, and Esousa Group Holdings LLC collectively reported beneficial ownership of 43,883,982 shares of Mullen Automotive Inc. common stock.
- This aggregate amount represents 9.9% of Mullen Automotive's common stock, calculated based on 61,595,743 shares outstanding as of January 21, 2025.
- The beneficial ownership includes 2,793,961 shares of common stock, 20,651,734 shares issuable upon conversion of notes, and 20,438,287 shares issuable upon cash exercise of warrants held by Esousa Group Holdings LLC.
- Michael Wachs, as the sole managing member for Esousa Group Holdings LLC, is deemed to beneficially own these shares.
- The reported amount does not include a fractional amount of shares from 458 shares of Series C Preferred Stock, nor 8,346,064 shares from convertible notes and 16,194,332 shares from warrants issued in January 2025.
- The filing states that the securities were not acquired and are not held for the purpose of changing or influencing the control of Mullen Automotive Inc.
Sentiment
Score: 6
Explanation: The disclosure of a significant, albeit passive, institutional ownership stake can be viewed as a neutral to slightly positive signal, indicating investor interest in the company.
Positives
- The disclosure of a significant 9.9% beneficial ownership by institutional entities like Esousa Group Holdings LLC and Michael Wachs may signal confidence in Mullen Automotive Inc. from a notable investor.
Future Outlook
The document is a disclosure of beneficial ownership as of a specific past date and does not contain forward-looking statements or guidance regarding Mullen Automotive Inc.'s future operations or financial performance.
Industry Context
This filing is a standard disclosure of a significant ownership stake by an institutional investor and does not provide broader industry context or trends.
Stakeholder Impact
- Shareholders may view the disclosure of a significant institutional stake as a positive indicator of investor confidence and potential long-term interest in the company's stock.
Next Steps
- The undersigned parties have agreed to jointly file any future statements on Schedule 13D or Schedule 13G (and any amendments or supplements thereto) required under Section 13(d) of the Securities Exchange Act of 1934, until the agreement is terminated.
Key Dates
| Date | Description |
|---|---|
| 2024-12-31 | Date of event which requires the filing of this statement (beneficial ownership snapshot). |
| 2025-01-21 | Date as of which the 61,595,743 shares of common stock outstanding were calculated for percentage of class. |
| 2025-02-14 | Date of the Agreement Regarding Joint Filing of Statement on Schedule 13D or 13G and the signing date of the Schedule 13G/A filing. |
Keywords
Mullen Automotive Inc., Esousa Group Holdings LLC, Michael Wachs, Beneficial Ownership, Schedule 13G/A, Common Stock, Convertible Notes, Warrants, Institutional Investor
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