---
schema_version: "secwatch.filing_event.v1"
accession: "0001829126-25-004199"
form_type: "8-K"
ticker: "BINI"
cik: "0001499961"
company_name: "BOLLINGER INNOVATIONS, INC."
filed_at: "2025-06-04T23:59:59+00:00"
generated_at: "2026-05-19T23:49:55.109865+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Mullen Automotive raises $14.4M via secured convertible notes with 15% interest and warrants

## Summary
- 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.

## SEC filing metadata
- accession: 0001829126-25-004199
- form_type: 8-K
- ticker: BINI
- cik: 0001499961
- company_name: BOLLINGER INNOVATIONS, INC.
- filed_at: 2025-06-04T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1499961/000182912625004199/0001829126-25-004199-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1499961/000182912625004199/mullenautomotive_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001829126-25-004199
- JSON: https://secwatch.observer/filing/0001829126-25-004199.json
- Plain text: https://secwatch.observer/filing/0001829126-25-004199.txt

## Key facts
- Debt Financings
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1499961/000182912625004199/0001829126-25-004199-index.htm
- Debt Financings
  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
  source text: 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 ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1499961/000182912625004199/0001829126-25-004199-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.