Electric-vehicle startup Mullen Automotive Inc. shares climbed after the company said it gained court approval to buy an Indiana manufacturing plant and other assets from now-defunct Electric Last Mile Solutions Inc. for $92 million.
Mullen shares, down about 93% so far this year, rose 64% in Wednesday trading to 36 cents. Electric Last Mile put its assets up for sale after shutting its business and filing a bankruptcy liquidation case in June.
Source: https://www.wsj.com/articles/mullen-automotive-to-buy-electric-last-mile-solutions-assets-out-of-bankruptcy-11666186605?siteid=yhoof2&yptr=yahoo