secwatch.observer — SEC 8-K summary
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Issuer:     BOLLINGER INNOVATIONS, INC. (BINI)
CIK:        0001499961
Form:       8-K
Filed at:   2025-06-04T23:59:59+00:00
Accession:  0001829126-25-004199
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1499961/000182912625004199/0001829126-25-004199-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1499961/000182912625004199/mullenautomotive_8k.htm
  HTML page:      https://secwatch.observer/filing/0001829126-25-004199

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