---
schema_version: "secwatch.filing_event.v1"
accession: "0001829126-25-000406"
form_type: "8-K"
ticker: "BINI"
cik: "0001499961"
company_name: "BOLLINGER INNOVATIONS, INC."
filed_at: "2025-01-27T23:59:59+00:00"
generated_at: "2026-05-27T09:11:49.491829+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Mullen Automotive raises $6.3M via convertible notes and warrants; conversion floor $0.08

## Summary
- $6.3M principal of 5% OID secured notes sold; mature in 4 months, bear 15% interest.
- Notes convertible at lower of $0.39 or 95% of market price; conversion floor $0.08.
- Warrants to purchase 32.4M common shares issued; 5-year term, cashless exercise using Black-Scholes (135% vol).
- Restricted from equity raises for 90 days; stockholder approval required if issuance exceeds 19.9% of outstanding.
- Company must cut annual salary expense by $13M by Feb 1, 2025 or face event of default.

## SEC filing metadata
- accession: 0001829126-25-000406
- form_type: 8-K
- ticker: BINI
- cik: 0001499961
- company_name: BOLLINGER INNOVATIONS, INC.
- filed_at: 2025-01-27T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1499961/000182912625000406/0001829126-25-000406-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1499961/000182912625000406/mullenautomotive_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001829126-25-000406
- JSON: https://secwatch.observer/filing/0001829126-25-000406.json
- Plain text: https://secwatch.observer/filing/0001829126-25-000406.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.