secwatch.observer — SEC 8-K summary
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Issuer:     BOLLINGER INNOVATIONS, INC. (BINI)
CIK:        0001499961
Form:       8-K
Filed at:   2022-11-21T23:59:59+00:00
Accession:  0001104659-22-120741
Event type: debt
Sentiment:  neutral
Materiality: 0.80
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1499961/000110465922120741/0001104659-22-120741-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1499961/000110465922120741/tm2230328d2_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-120741

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