secwatch.observer — SEC 8-K summary
======================================

Issuer:     BOLLINGER INNOVATIONS, INC. (BINI)
CIK:        0001499961
Form:       8-K
Filed at:   2025-05-22T23:59:59+00:00
Accession:  0001829126-25-003900
Event type: debt
Sentiment:  negative
Materiality: 0.80
Item codes: 1.01, 2.03, 3.02, 5.02, 5.07, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Mullen raises $1.6M via convertible notes; shareholders approve reverse split and equity plan increase
--------------------------------------------------------------------------------

- Secured $1.6M principal via 5% OID notes (15% interest, 4-month maturity) convertible at lower of $0.15 or 95% of VWAP (floor $0.03); warrants for 21M shares.
- Investor granted rights to purchase up to $4.7M additional notes on same terms through May 2026.
- Special Meeting approved reverse stock split (1:2 to 1:250) and issuance of shares exceeding 19.99% cap under the securities purchase agreement.
- Stockholders approved increasing 2022 Equity Incentive Plan by 15M shares to 105M total authorized shares.
- As of May 22, 2025, outstanding common shares total 54,139,547.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1499961/000182912625003900/0001829126-25-003900-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1499961/000182912625003900/mullenautomotive_8k.htm
  HTML page:      https://secwatch.observer/filing/0001829126-25-003900

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