secwatch.observer — SEC 8-K summary
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Issuer:     BOLLINGER INNOVATIONS, INC. (BINI)
CIK:        0001499961
Form:       8-K
Filed at:   2024-08-01T23:59:59+00:00
Accession:  0001829126-24-005151
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Mullen Automotive to acquire ~33.37% of Bollinger Motors for $36.1M
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- Agreement covers up to 467,869 shares at an aggregate purchase price of ~$36.1M, representing 33.37% on a fully-diluted basis.
- At closing, $2.6M paid and 33,048 shares issued; remaining ~$33.6M subject to financing condition and installment payments by February 2025.
- Separately, Mullen has a right to purchase up to 439,347 additional shares at $77.16/share within an 18-month period.
- Also, for 36 months, Mullen can match up to 100% of any third-party financing at 75% of the offered price.
- Proceeds will be used for capital expenditure, working capital, and general corporate purposes; certain expenditures require Board approval.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1499961/000182912624005151/0001829126-24-005151-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1499961/000182912624005151/mullenautomotive_8k.htm
  HTML page:      https://secwatch.observer/filing/0001829126-24-005151

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