Bollinger Innovations, Inc. (NASDAQ: BINI), an electric vehicle (EV) manufacturer, announced today a major step in strengthening its financial position by eliminating all outstanding warrants and $25.3 million in convertible notes. The move follows agreements with existing noteholders to convert these instruments into newly created preferred stock.
“This strategic action significantly improves our capital structure,” said David Michery, CEO and Chairman of Bollinger Innovations. “Our investors continue to demonstrate their support, not just financially but also through their willingness to eliminate debt and warrants to position us for long-term growth.”
Bollinger’s commercial EV lineup includes:
- ONE – a Class 1 all-electric cargo van
- THREE – a Class 3 electric cab chassis truck
Both models are available for purchase and fully compliant with U.S. Federal Motor Vehicle Safety Standards (FMVSS), the Environmental Protection Agency (EPA), and California Air Resources Board (CARB) emissions requirements.
The company’s flagship Bollinger B4 Chassis Cab, an all-electric Class 4 truck, was developed with direct input from fleet operators and upfitters. Built on Bollinger’s proprietary Quad-Bend chassis, the B4 protects its 158-kWh battery and critical components while delivering exceptional maneuverability and performance. Key specs include:
- Range: 185 miles
- Turning Radius: 46 feet
- Payload Capacity: 7,325 pounds
Designed for demanding urban environments and last-mile delivery, Bollinger’s purpose-built vehicles aim to redefine utility and sustainability in commercial transportation.
About Bollinger Innovations, Inc.
Bollinger Innovations (NASDAQ: BINI) is a Southern California-based automotive company building the next generation of commercial electric vehicles (“EVs”) with a U.S. based vehicle manufacturing facility located in Tunica, Mississippi. Both the ONE, a Class 1 EV cargo van, and THREE, a Class 3 EV cab chassis truck, are available for sale in the U.S. The Company’s commercial dealer network consists of seven dealers, which includes Papé Kenworth, Pritchard EV, National Auto Fleet Group, Ziegler Truck Group, Range Truck Group, Eco Auto, and Randy Marion Auto Group, providing sales and service coverage in key West Coast, Midwest, Pacific Northwest, New England, and Mid-Atlantic markets.
Bollinger Motors, of Oak Park, Michigan, is an established EV truck company of Bollinger Innovations. 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.
