FAQ: Bollinger Innovations, Inc. (NASDAQ: BINI) Strengthens Balance Sheet by Eliminating Warrants and Convertible Notes

What did Bollinger Innovations, Inc. announce regarding its financial structure?

Bollinger Innovations, Inc. announced the elimination of all warrants and $25.3 million of convertible notes by exchanging them for newly created preferred stock, as part of agreements with existing noteholders.

Why is the elimination of warrants and convertible notes significant for Bollinger Innovations, Inc.?

This move improves the company’s capital structure and demonstrates continued investor support, which is crucial for its growth and development in the competitive electric vehicle market.

How does this financial restructuring benefit Bollinger Innovations, Inc.?

By converting debt into preferred stock, the company strengthens its balance sheet, potentially making it more attractive to investors and providing a more stable financial foundation for future operations.

Who is the CEO of Bollinger Innovations, Inc., and what did he say about this move?

David Michery, the CEO and Chairman of Bollinger Innovations, Inc., stated that this move improves the company’s capital structure and reflects continued investor support.

What types of electric vehicles does Bollinger Innovations, Inc. manufacture?

Bollinger’s commercial EV lineup includes the ONE Class 1 cargo van, THREE Class 3 cab chassis, and the B4 Class 4 chassis cab, all compliant with U.S. Federal Motor Vehicle Safety Standards, EPA, and CARB certifications.

Where is Bollinger Innovations, Inc. based and where are its vehicles manufactured?

Bollinger Innovations, Inc. is a Southern California-based automotive company with U.S. based vehicle manufacturing located in Tunica, Mississippi.

When did Bollinger Motors become a majority-owned EV truck company of Bollinger Innovations?

Bollinger Motors, of Oak Park, Michigan, became a majority-owned EV truck company of Bollinger Innovations in September 2022.

What are some milestones achieved by Bollinger Motors?

Bollinger Motors has passed numerous milestones including its B4, Class 4 electric truck production launch on Sept. 16, 2024, and the development of a world-class dealer network with over 50 locations across the United States for sales and service support.

Where can I find more information about Bollinger Innovations, Inc.?

To learn more about the Company, visit www.BollingerEV.com.

Where can investors find the latest news and updates relating to BINI?

The latest news and updates relating to BINI are available in the company’s newsroom at https://ibn.fm/BINI.