secwatch.observer — SEC 8-K summary
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Issuer:     BOLLINGER INNOVATIONS, INC. (BINI)
CIK:        0001499961
Form:       8-K
Filed at:   2025-02-11T23:59:59+00:00
Accession:  0001829126-25-000884
Event type: debt
Sentiment:  negative
Materiality: 0.70
Item codes: 1.01, 2.03, 3.02, 3.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Mullen Automotive raises $3.1M via convertible notes with warrants; exchanges existing warrants
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- Issued $3.1M secured convertible notes (5% OID) to investors; notes bear 15% interest, mature 4 months, convertible at floor $0.05/share.
- Issued 5-year warrants for ~25.2M shares; exercise price adjustable, cashless exercise permitted with $0.01 floor after warrant exchange.
- Entered Warrant Exchange Agreement converting prior warrants into new warrants with same terms but cashless exercise floor of $0.01.
- Registration Rights Agreement requires filing resale registration statement within 5 days of effectiveness of another registration, with liquidated damages for delays.
- Amended Rights Agreement to change governing law from Delaware to New York.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1499961/000182912625000884/0001829126-25-000884-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1499961/000182912625000884/mullenautomotive_8k.htm
  HTML page:      https://secwatch.observer/filing/0001829126-25-000884

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer