BOLLINGER INNOVATIONS, INC. (BINI): debt financing — Mullen Automotive raises $14.4M via secured convertible notes with 15% interest and warrants

BOLLINGER INNOVATIONS, INC.

Issued $11.6M and $2.8M in 5% OID secured convertible notes, net proceeds ~$13.66M.
Notes bear 15% interest, mature in 4 months; convertible at lower of $14.00 or 95% of VWAP.
Issued 5-year warrants for ~2M shares; cashless exercise at Black-Scholes value with 135% volatility.
Company must seek stockholder approval within 40 days to exceed 19.9% exchange cap on conversions.
Registration rights agreement requires filing within 10 days, effectiveness within 40 days; liquidated damages for delays.

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 aggregate principal amount of approximately $11.6 million with certain investors at 15% per annum maturing four months from the date of issuance.

Instrument: senior notes
Principal: aggregate principal amount of approximately $11.6 million
Counterparty: certain investors
Rate: 15% per annum
Maturity: four months from the date of issuance
Event: incurrence

Exact text from the filing

for shares of Common Stock (the “ Warrants ”). Pursuant to the first securities purchase agreement, the Company issued Notes in the aggregate principal amount of approximately $11.6 million and Warrants exercisable on a cash basis for 1,654,135 shares of Common Stock (the “ $11M SPA ”). Pursuant to the second securities purchase agreement, the Company issued Notes

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

BOLLINGER INNOVATIONS, INC. incurred senior notes of aggregate principal amount of approximately $2.8 million with certain investors at 15% per annum maturing four months from the date of issuance.

Instrument: senior notes
Principal: aggregate principal amount of approximately $2.8 million
Counterparty: certain investors
Rate: 15% per annum
Maturity: four months from the date of issuance
Event: incurrence

Exact text from the filing

Pursuant to the second securities purchase agreement, the Company issued Notes in the aggregate principal amount of approximately $2.8 million and Warrants exercisable on a cash basis for 387,969 shares of Common Stock (the “ $2.8M SPA ”).

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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 0001829126-25-004199

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