BOLLINGER INNOVATIONS, INC. (BINI): debt financing — Mullen Automotive raises $4.0M in convertible notes and warrants; shares outstanding disclosed

BOLLINGER INNOVATIONS, INC.

Entered securities purchase agreement on March 6, 2025 for $4.0M principal of 5% OID secured notes, convertible at floor $0.37, with 15% interest and 4-month maturity.
Issued 5-year warrants for 4,545,456 shares with cashless exercise and anti-dilution adjustments to a $0.01 floor.
Company must seek stockholder approval if conversion or exercise exceeds 19.9% of outstanding shares as of execution date.
Also issued $2.1M in February Notes on Feb 20 and 24, 2025, with conversion floors of $1.03 and $0.65 per share.
As of March 6, 2025, outstanding common shares were 3,673,608.

item 1.01 item 2.03 item 3.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

BOLLINGER INNOVATIONS, INC. incurred senior notes of approximately $2.1 million at 5% Original Issue Discount maturing four months from the date of issuance.

Instrument: senior notes
Principal: approximately $2.1 million
Rate: 5% Original Issue Discount
Maturity: four months from the date of issuance
Event: incurrence

Exact text from the filing

On February 20, and February 24, 2025, pursuant to the Additional Investment Rights Agreement entered into on December 31, 2024 (previously reported by the Company on a Current Report on Form 8-K, filed with the Securities and Exchange Commission (the “ SEC ”) on January 2, 2025) and the Securities Purchase Agreement dated May 14, 2024, the Company issued an additional aggregate principal amount of approximately $2.1 million of 5% Original Issue Discount Senior Secured Notes (the “ February Notes ”) that are convertible into shares of Common Stock, and five-year warrants exercisable on a cash basis for an aggregate of 985,577 shares of Common Stock (the “ February Warrants ”).

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7 debt financings filed in the last 30 days. Browse all debt financings →

BOLLINGER INNOVATIONS, INC. filing history →

Source: SEC EDGAR

accession 0001829126-25-001573

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