Mullen Automotive amends settlement with Acuitas; fixes $20M Series D purchase for June 1, 2023

BOLLINGER INNOVATIONS, INC.

Amendment fixes exercise date of Settlement Additional Purchase Right to June 1, 2023.
Acuitas will purchase $20M of Series D Preferred Stock and warrants on that date.
Warrants exercisable for 185% of common shares at May 31, 2023 closing price.
Acuitas to issue a promissory note to Mullen, due upon registration of resale shares.
No other terms of the January 13, 2023 Settlement Agreement were changed.

item 1.01 item 9.01

Key facts

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

BOLLINGER INNOVATIONS, INC. amended Amendment with Acuitas Capital LLC (effective 2023-03-02).

Action: amendment
Agreement: settlement
Counterparty: Acuitas Capital LLC
Effective: 2023-03-02

Exact text from the filing

On March 2, 2023, Mullen Automotive Inc. (the “Company”) entered into an amendment (the “Amendment”) to the Settlement Agreement and Release (the “Settlement Agreement”) , dated January 13, 2023, between the Company and Acuitas Capital LLC (“Acuitas”), pursuant to which Acuitas irrevocably exercised its right to purchase additional shares of the Company’s Series D Preferred Stock and warrants in an amount equal to $20,000,000 and fixed the date of such exercise as June 1, 2023.

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Source: SEC EDGAR

accession 0001104659-23-029072

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