Mullen acquires additional 21% of Bollinger Motors for $11M settlement, now owns 95%

BOLLINGER INNOVATIONS, INC.

Mullen pays $11M to settle lawsuit and acquire all of Robert Bollinger's shares, increasing ownership from 74% to 95%.
Court dismisses lawsuit with prejudice and discharges receiver; Bollinger continues operations under Mullen.
Transaction increases shareholder equity by approximately $3.5M and extinguishes significant debt.
Bollinger to ramp up sales and streamline operations; Mullen provides full financial backing for vehicles.

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