secwatch.observer — SEC 8-K summary
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Issuer:     BOLLINGER INNOVATIONS, INC. (BINI)
CIK:        0001499961
Form:       8-K
Filed at:   2022-06-10T23:59:59+00:00
Accession:  0001104659-22-070216
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Mullen enters $275M securities purchase deal for Series D Preferred; COO retires
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- Up to $275M commitment for Series D Preferred Stock and five-year warrants, subject to stockholder approval.
- Purchase price per share at lower of $1.27 or prior day closing, floor $0.10.
- Series D carries 15% annual cumulative dividend; convertible after registration and price/volume conditions ($27.5M avg daily volume).
- COO Jerry Alban retiring effective June 30, 2022; Ignacio Novoa appointed director on same date.
- If Company fails to purchase by deadline, it must pay $27.5M cash or issue 28.5M shares.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1499961/000110465922070216/0001104659-22-070216-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1499961/000110465922070216/tm2218156d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-070216

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer