---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-043192"
form_type: "8-K"
ticker: "BINI"
cik: "0001499961"
company_name: "BOLLINGER INNOVATIONS, INC."
filed_at: "2023-04-07T23:59:59+00:00"
generated_at: "2026-06-17T04:34:00.474906+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Mullen Automotive commits to $90M Series D issuance and takes $20M short-term debt at 15%

## Summary
- Irrevocably committed to issue Series D Preferred Stock and warrants for remaining $90M commitment, payable in two $45M tranches on April 17 and May 15, 2023.
- Entered three promissory notes totaling $20M, due April 17, 2023, bearing 15% interest (20% upon default).
- Company agreed not to effect reverse stock split within 5 trading days prior to each purchase date.
- All other terms of the Securities Purchase Agreement remain unchanged.

## SEC filing metadata
- accession: 0001104659-23-043192
- form_type: 8-K
- ticker: BINI
- cik: 0001499961
- company_name: BOLLINGER INNOVATIONS, INC.
- filed_at: 2023-04-07T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1499961/000110465923043192/0001104659-23-043192-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1499961/000110465923043192/tm2311933d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-043192
- JSON: https://secwatch.observer/filing/0001104659-23-043192.json
- Plain text: https://secwatch.observer/filing/0001104659-23-043192.txt

## Key facts
- Debt Financings
  BOLLINGER INNOVATIONS, INC. incurred loan of aggregate principal amount of $20 million at 15% per annum, which increases to 20% per annum if payments under the Promissory maturing April 17, 2023.
  - Instrument: loan
  - Principal: aggregate principal amount of $20 million
  - Rate: 15% per annum, which increases to 20% per annum if payments under the Promissory
  - Maturity: April 17, 2023
  - Event: incurrence
  source text: On April 4, 2023, the Company entered into three promissory notes (the “Securities Purchase Agreement”) in the aggregate principal amount of $20 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1499961/000110465923043192/0001104659-23-043192-index.htm

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