Mullen Automotive halts 2023 financing; $135M cash exceeds market cap

BOLLINGER INNOVATIONS, INC.

Financing moratorium for balance of 2023; remaining investor option expires June 30, 2023.
Cash of $135M as of June 13 ($0.38/share); only $7.3M outstanding debt.
Book value $2.08/share at March 31, 2023; stock declined 95% from $3.25 to $0.16.
Bollinger Motors and ELMS acquisitions added $253M in unencumbered assets.
Company states sufficient capital for at least the next 12 months.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BOLLINGER INNOVATIONS, INC. reported preliminary financial results for March 31, 2023.

Period: March 31, 2023
Result: preliminary results

Exact text from the filing

As of its most recently filed Form 10-Q on March 31, 2023, the Company’s book value was $2.08 per share.

View on SEC.gov

3 earnings releases filed in the last 30 days. Browse all earnings releases →

BOLLINGER INNOVATIONS, INC. filing history →

Source: SEC EDGAR

accession 0001558370-23-011295

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