---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-22-120741"
form_type: "8-K"
ticker: "BINI"
cik: "0001499961"
company_name: "BOLLINGER INNOVATIONS, INC."
filed_at: "2022-11-21T23:59:59+00:00"
generated_at: "2026-06-21T14:58:42.190330+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Mullen Automotive secures $150M via convertible notes at 15% interest; $90M commitment remains

## Summary
- Received $150M from investors in exchange for convertible notes accruing 15% interest; conversion price floor $0.10 per share.
- Investors receive warrants for 185% of converted shares at exercise price equal to conversion price.
- Remaining $90M commitment may be drawn in $45M tranches on Jan 24 and Feb 24, 2023, at Company's discretion.
- Company must obtain stockholder approval by Dec 23, 2022, to authorize additional shares; special meeting set for that date.
- From Apr 1 to Jun 30, 2023, investors have option to purchase additional $100M of Series D Preferred Stock.

## SEC filing metadata
- accession: 0001104659-22-120741
- form_type: 8-K
- ticker: BINI
- cik: 0001499961
- company_name: BOLLINGER INNOVATIONS, INC.
- filed_at: 2022-11-21T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1499961/000110465922120741/0001104659-22-120741-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1499961/000110465922120741/tm2230328d2_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-22-120741
- JSON: https://secwatch.observer/filing/0001104659-22-120741.json
- Plain text: https://secwatch.observer/filing/0001104659-22-120741.txt

## Key facts
- Debt Financings
  BOLLINGER INNOVATIONS, INC. incurred convertible notes of $150 million.
  - Instrument: convertible notes
  - Principal: $150 million
  - Event: incurrence
  source text: On November 15, 2022, the Company issued Notes to the investors in an aggregate principal amount of $150 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1499961/000110465922120741/0001104659-22-120741-index.htm
- Material Agreements
  BOLLINGER INNOVATIONS, INC. amended Amendment No. 3 with the investors valued at $150 million (effective 2022-11-15).
  - Action: amendment
  - Agreement: equity purchase
  - Counterparty: the investors
  - Value: $150 million
  - Effective: 2022-11-15
  source text: On November 15, 2022, Mullen Automotive Inc. (the “Company”) entered into Amendment No. 3 (“Amendment No. 3”) to the existing securities purchase agreement dated as of June 7, 2022 and amended on June 23, 2022 and on September 19, 2022 (the “Securities Purchase Agreement”),
  evidence_url: https://www.sec.gov/Archives/edgar/data/1499961/000110465922120741/0001104659-22-120741-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.