Mullen Automotive issues $12.5M in convertible notes; investors also receive warrants

BOLLINGER INNOVATIONS, INC.

Investors partially exercise additional investment right from May 2024 SPA, purchasing $12.5M aggregate principal of 5% OID senior secured notes.
Notes convertible into common stock; issuance excludes 5% original issue discount, net proceeds ~$11.9M.
Investors also receive five-year cash or cashless warrants for 46,664 shares of common stock.
Terms of Notes and Warrants identical to those previously described in Form 10-Q filed May 14, 2024.

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