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Mullen Automotive | 8-K: Mullen Automotive Announces Robert Bollinger Provides Bollinger Motors $10M Financing

Mullen Automotive | 8-K: Mullen Automotive Announces Robert Bollinger Provides Bollinger Motors $10M Financing

Mullen Automotive | 8-K:Mullen Automotive宣布Robert Bollinger向Bollinger汽车提供1000万美元融资
美股SEC公告 ·  2024/10/28 11:03

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Bollinger Motors, a majority-owned subsidiary of Mullen Automotive, has secured $10 million in non-dilutive debt financing from its founder Robert Bollinger. The funding, formalized through an Amended and Restated Secured Promissory Note dated October 24, 2024, will support the production ramp-up and sales of the Bollinger B4 Class 4 EV truck.The note, which amends a previous $5 million secured promissory note from October 22, bears a 15% annual interest rate and matures on October 30, 2026. The financing is secured by Bollinger Motors' assets, excluding inventory and certain intellectual property. Monthly interest payments begin November 29, 2024, with a structured payment schedule starting January 2025.Bollinger Motors commenced full-scale production of the B4 electric truck in September at Roush Industries in Livonia, Michigan, with over 70% US-made content. The trucks are now being delivered to customers and dealers nationwide, marking Bollinger's transition to a full-fledged OEM status.
Bollinger Motors, a majority-owned subsidiary of Mullen Automotive, has secured $10 million in non-dilutive debt financing from its founder Robert Bollinger. The funding, formalized through an Amended and Restated Secured Promissory Note dated October 24, 2024, will support the production ramp-up and sales of the Bollinger B4 Class 4 EV truck.The note, which amends a previous $5 million secured promissory note from October 22, bears a 15% annual interest rate and matures on October 30, 2026. The financing is secured by Bollinger Motors' assets, excluding inventory and certain intellectual property. Monthly interest payments begin November 29, 2024, with a structured payment schedule starting January 2025.Bollinger Motors commenced full-scale production of the B4 electric truck in September at Roush Industries in Livonia, Michigan, with over 70% US-made content. The trucks are now being delivered to customers and dealers nationwide, marking Bollinger's transition to a full-fledged OEM status.
Bollinger Motors 是 Mullen Automotive 的一家控股子公司,已从创始人 Robert Bollinger 手中获得了1000万美元的非稀释性债务融资。这笔资金通过2024年10月24日的修订及重申的有担保票据正式化,将支持 Bollinger B4 4级电动卡车的生产扩张和销售。该票据修订了之前于10月22日的500万美元有担保票据,年利率为15%,到期日为2026年10月30日。这笔融资以 Bollinger Motors 的资产为担保,不包括库存和某些知识产权。每月利息支付将于2024年11月29日开始,结构化还款计划自2025年1月开始。Bollinger Motors 于9月在密歇根州利沃尼亚的 Roush Industries 开始全面生产 B4 电动卡车,超过70%的内容为美国制造。这些卡车目前正在全国范围内交付给客户和经销商,标志着 Bollinger 向完整 OEM 身份的转变。
Bollinger Motors 是 Mullen Automotive 的一家控股子公司,已从创始人 Robert Bollinger 手中获得了1000万美元的非稀释性债务融资。这笔资金通过2024年10月24日的修订及重申的有担保票据正式化,将支持 Bollinger B4 4级电动卡车的生产扩张和销售。该票据修订了之前于10月22日的500万美元有担保票据,年利率为15%,到期日为2026年10月30日。这笔融资以 Bollinger Motors 的资产为担保,不包括库存和某些知识产权。每月利息支付将于2024年11月29日开始,结构化还款计划自2025年1月开始。Bollinger Motors 于9月在密歇根州利沃尼亚的 Roush Industries 开始全面生产 B4 电动卡车,超过70%的内容为美国制造。这些卡车目前正在全国范围内交付给客户和经销商,标志着 Bollinger 向完整 OEM 身份的转变。
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