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Bollinger Innovations (NASDAQ: BINI) has announced a 1-for-250 reverse stock split effective August 4, 2025, at 12:01 a.m. Eastern Time. The primary goal is to regain compliance with Nasdaq's $1.00 minimum bid price requirement.
The reverse split will automatically convert every 250 current shares into one new share, reducing the total outstanding shares from approximately 423.5 million to 1.7 million. The stock will continue trading under the symbol BINI with a new CUSIP number 62526P885.
The split was approved by stockholders on July 22, 2025, and will proportionally adjust equity awards, warrants, convertible notes, and preferred stock conversion prices. No fractional shares will be issued, with all fractions rounded up to the nearest whole share.
Bollinger Innovations (NASDAQ: BINI), an emerging EV manufacturer, has significantly strengthened its balance sheet by eliminating all warrants and $25.3 million of convertible notes. The company achieved this through agreements with existing noteholders to exchange convertible notes and warrants for newly created preferred stock, resulting in an approximate $133 million increase in shareholder equity.
The company's commercial EV lineup includes the ONE (Class 1 EV cargo van) and THREE (Class 3 EV cab chassis truck) for urban last-mile delivery, both fully compliant with federal safety standards and emissions requirements. Additionally, their B4 Chassis Cab, a Class 4 commercial truck, features a 158-kWh battery pack, 185-mile range, and 7,325-pound payload capacity.
Bollinger Innovations, Inc. (Nasdaq: BINI), formerly known as Mullen Automotive Inc., has officially completed its corporate name change effective July 28, 2025. The company's Nasdaq stock symbol has been updated from its previous ticker to BINI at market open on the same date.
The name and symbol change does not affect the company's CUSIP number, legal structure, or business operations. Shareholders are not required to take any action. The EV manufacturer now unifies its commercial Class 1, 3, and 4 vehicles under the Bollinger brand.
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