Mullen issues 54.7M shares, 49.5M pre-funded warrants, 192.7M warrants in lieu of Series D Preferred

BOLLINGER INNOVATIONS, INC.

Issued 54.7M common shares, pre-funded warrants for 49.5M shares at $0.001, and warrants for 192.7M shares at $0.4320.
Investors paid $45M under June 2022 Securities Purchase Agreement; issuance replaces 104.2M Series D Preferred shares.
Prospectus supplement filed to register 585.9M shares for resale by selling stockholders.
Massive potential dilution to existing shareholders; stock count prior to this was approximately 4.5M shares.

Key facts

Extracted from this filing and checked against the source text.

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

BOLLINGER INNOVATIONS, INC. amended Letter Agreement with the buyers that are parties to the Securities Purchase Agreement valued at $45 million (effective 2023-06-12).

Action: amendment
Agreement: equity purchase
Counterparty: the buyers that are parties to the Securities Purchase Agreement
Value: $45 million
Effective: 2023-06-12

Exact text from the filing

On June 12, 2023, Mullen Automotive Inc. (the “Company”) entered into a Letter Agreement (the “Letter Agreement”) in connection with the Company’s existing securities purchase agreement dated as of June 7, 2022 and amended on June 23, 2022, September 19, 2022, November 15, 2022, and April 3, 2023 (the “Securities Purchase Agreement”).

View on SEC.gov

23 material agreements filed in the last 30 days. Browse all material agreements →

BOLLINGER INNOVATIONS, INC. filing history →

Source: SEC EDGAR

accession 0001104659-23-070437

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