{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-23-128894","form_type":"8-K","ticker":"BINI","cik":"0001499961","company_name":"BOLLINGER INNOVATIONS, INC.","filed_at":"2023-12-22T23:59:59+00:00","discovered_at":"2026-05-14T18:03:29.276145+00:00","generated_at":"2026-06-07T07:50:17.629608+00:00","sec_items":["1.01","9.01"],"event_type":"debt","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Mullen Automotive issues $50M secured promissory note at 10% interest, 3-month maturity","bullets":["Principal $50M, purchase price $32M (original issue discount $18M), interest 10% (18% default), 3-month maturity.","Note secured by substantially all assets; proceeds for manufacturing operations.","Closing conditions include stock price >$1.00 per share after reverse stock split.","Covenants restrict additional debt, liens, stock buybacks, affiliate transactions; mandatory prepayment from future financing."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-23-128894","json":"https://secwatch.observer/filing/0001104659-23-128894.json","markdown":"https://secwatch.observer/filing/0001104659-23-128894.md","text":"https://secwatch.observer/filing/0001104659-23-128894.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1499961/000110465923128894/0001104659-23-128894-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1499961/000110465923128894/tm2333182d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-07T07:50:17.629608+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"fdff5cdb080b9109140f1c20e208cd0c8d424dfd","claim":"BOLLINGER INNOVATIONS, INC. entered into Debt Agreement valued at aggregate principal amount of $50,000,000, for a total purchase price of $32,000,000, or an original (effective 2023-12-18).","evidence_excerpt":"On December 18, 2023, Mullen Automotive, Inc. (the “Company”) agreed to issue a non-convertible secured promissory note (the “Note”) that does not include any stock, warrants or other securities (the “Debt Agreement”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1499961/000110465923128894/0001104659-23-128894-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Value","value":"aggregate principal amount of $50,000,000, for a total purchase price of $32,000,000, or an original"},{"label":"Effective","value":"2023-12-18"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}