Mullen Automotive adopts shareholder rights plan with 10% beneficial ownership trigger

BOLLINGER INNOVATIONS, INC.

Dividend of one Right per share of common and preferred stock; record date May 13, 2024.
Rights become exercisable at $30 per ten-thousandth of a Series A-1 Preferred share after a 10% or greater acquisition.
Rights expire on May 1, 2025, unless earlier redeemed or exchanged; redemption price set at $0.001 per Right.
Upon a trigger, Board may exchange each Right for one share of common stock (subject to adjustments).
Plan designed to prevent any person or group from gaining control without paying a control premium.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

BOLLINGER INNOVATIONS, INC.: Adopted Certificate of Designation for Series A-1 Junior Participating Preferred Stock (effective 2024-05-01).

Change: charter amendment
Effective: 2024-05-01

Exact text from the filing

In connection with the adoption of the Rights Agreement, on May 1, 2024, the Board approved a Certificate of Designation of Rights, Preferences and Privileges of Series A-1 Junior Participating Preferred Stock, (the “Certificate of Designation”), setting forth the rights, powers and preferences of the A-1 Preferred Stock and designating 50,000 shares of A-1 Preferred Stock.

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BOLLINGER INNOVATIONS, INC. filing history →

Source: SEC EDGAR

accession 0001829126-24-003060

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