BOLLINGER INNOVATIONS, INC. (BINI): M&A transaction — Mullen closes $105M acquisition of ELMS assets; Class 1 EV vans expected Q1 2023

BOLLINGER INNOVATIONS, INC.

All-cash purchase of ELMS assets for $105M includes Mishawaka plant, inventory, IP.
Class 1 commercial van production to begin in Tunica, MS; deliveries expected Q1 2023, Class 3 following in Q2.
Mishawaka plant, formerly GM/Mercedes-Benz, to produce Mullen FIVE SUV and Bollinger platforms.
CEO Michery cites acquisition as key to becoming a dominant EV competitor with IP and manufacturing assets.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

BOLLINGER INNOVATIONS, INC. completed an acquisition involving Electric Last Mile Solutions, Inc. and Electric Last Mile, Inc. for $105 million (closed 2022-11-30).

Action: acquisition
Counterparty: Electric Last Mile Solutions, Inc. and Electric Last Mile, Inc.
Consideration: $105 million
Closing: 2022-11-30

Exact text from the filing

On November 30, 2022, Mullen Automotive Inc. (the “Company”) completed its acquisition of certain assets of the Bankruptcy Estates of Electric Last Mile Solutions, Inc. and Electric Last Mile, Inc. in an all-cash purchase valued at $105 million, which includes the payment of monetary liabilities related to assumed contracts.

View on SEC.gov

3 m&a transactions filed in the last 30 days. Browse all m&a transactions →

BOLLINGER INNOVATIONS, INC. filing history →

Source: SEC EDGAR

accession 0001104659-22-124177

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.