secwatch.observer — SEC 8-K summary
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Issuer:     BOLLINGER INNOVATIONS, INC. (BINI)
CIK:        0001499961
Form:       8-K
Filed at:   2025-03-07T23:59:59+00:00
Accession:  0001829126-25-001573
Event type: debt
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Mullen Automotive raises $4.0M in convertible notes and warrants; shares outstanding disclosed
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1499961/000182912625001573/0001829126-25-001573-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1499961/000182912625001573/mullenautomotive_8k.htm
  HTML page:      https://secwatch.observer/filing/0001829126-25-001573

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