secwatch.observer — SEC 8-K summary
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Issuer:     BOLLINGER INNOVATIONS, INC. (BINI)
CIK:        0001499961
Form:       8-K
Filed at:   2025-09-23T23:59:59+00:00
Accession:  0001829126-25-007611
Event type: other_material
Sentiment:  negative
Materiality: 0.90
Item codes: 1.01, 5.03, 2.03, 3.02, 3.03, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Bollinger Innovations raises $4.1M via convertible notes with 15% interest; effects 1-for-250 reverse split
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- Entered securities purchase agreement for $4.1M convertible notes with 15% interest, 5% OID, 4-month maturity; includes 5-year warrants.
- Notes convertible at lower of fixed price or 95% of VWAP; anti-dilution adjustments; stockholder approval required if conversion exceeds 19.9% of outstanding.
- Company agrees to no other equity sales during 90-day restricted period after effectiveness or stockholder approval.
- Reverse stock split 1-for-250 effective Sept. 22, 2025, reducing outstanding shares from ~126M to ~506k; seeks Nasdaq $1 bid compliance.
- Company commits no further reverse split for three years; registration rights agreement requires filing within 10 days or penalties apply.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1499961/000182912625007611/0001829126-25-007611-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1499961/000182912625007611/bollingerinnovations_8k.htm
  HTML page:      https://secwatch.observer/filing/0001829126-25-007611

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