Bollinger Innovations Announces 1-for-250 Reverse Stock Split to Meet Nasdaq Compliance
TL;DR
Bollinger Innovations' 1-for-250 reverse stock split aims to boost NASDAQ compliance, potentially increasing stock value for investors seeking advantage in the EV market.
Bollinger Innovations will execute a 1-for-250 reverse stock split on August 4, 2025, reducing outstanding shares to about 1.7 million to meet NASDAQ's minimum bid price requirement.
Bollinger Innovations' strategic financial moves support its mission to advance the EV industry, contributing to a cleaner, more sustainable future for transportation.
Bollinger Innovations, transitioning from Mullen Automotive, is revolutionizing the EV sector with certified commercial vehicles and a growing dealer network across the U.S.
Found this article helpful?
Share it with your network and spread the knowledge!
Bollinger Innovations, Inc. (NASDAQ: BINI), a prominent electric vehicle manufacturer, has announced a 1-for-250 reverse stock split of its common stock, effective August 4, 2025, at 12:01 a.m. Eastern Time. This strategic decision, approved by stockholders during a special meeting on July 22, is designed to ensure the company's compliance with Nasdaq's $1.00 minimum bid price requirement. Following the split, Bollinger Innovations' shares will continue to be traded on Nasdaq under the symbol BINI, with trading on a split-adjusted basis commencing when the markets open on August 4.
The reverse stock split will drastically reduce the number of outstanding shares from approximately 423.5 million to about 1.7 million. Proportional adjustments will be made to outstanding equity awards, warrants, and convertible notes, with fractional shares being rounded up to the nearest whole share. This move is critical for Bollinger Innovations as it seeks to maintain its listing on Nasdaq, a key platform for attracting investors and enhancing the company's visibility in the competitive electric vehicle market.
Bollinger Innovations, formerly known as Mullen Automotive Inc., is at the forefront of developing the next generation of commercial electric vehicles. With its U.S.-based manufacturing facility in Tunica, Mississippi, the company has already made significant strides in the EV sector. Its ONE and THREE models, a Class 1 EV cargo van and a Class 3 EV cab chassis truck respectively, have received certification from the California Air Resource Board (CARB) and the EPA, making them available for sale across the U.S. The company's expansion is further supported by a growing dealer network, ensuring widespread sales and service coverage.
The reverse stock split represents a pivotal moment for Bollinger Innovations as it continues to navigate the challenges and opportunities within the electric vehicle industry. For more details on the company's latest developments, visit https://www.BollingerEV.com.
Curated from InvestorBrandNetwork (IBN)
