BINI News & Events

Activist investor Jourdan Matthews, CEO of The Winvest Investment Fund Management Corp., announced that Winvest is interested in acquiring a majority stake in Bollinger Innovations, via a tender offer with the support of the board or, alternatively, will seek a board seat to improve operations. Winvest acquired its current stake to open board discussions for Winvest's numerous proposals for growth, including: strategies for securing $15M or more in new funds; issuing a new dividend to shareholders immediately out of the $15M or more in proposed new funding; the strategic acquisition of another NASDAQ-listed company to create a key subsidiary that funds large-scale debt reduction in Bollinger; spinning-off or winding down the least profitable segments of Bollinger; and creating a new investment arm for Bollinger, aimed at generating capital gains and interest income. Commenting on Bollinger's potential, Matthews said: "The company has absolutely vast potential - only if it uses its most valuable asset, which I am proposing the company unleash immediately." Matthews also said of Bollinger: "Short interest is almost 1,500% right now and retail investors are furious; things have to change immediately, which is possible if the board manages its best asset correctly and uses it right away." Matthews emphasized that there is no assurance that any of Winvest's proposals will be adopted, and it is in the discretion of the board to take action on any or all of such proposals to improve the company. Bollinger has not endorsed these proposals.

Bollinger Innovations signed an agreement for 30 Mullen THREE EV trucks and four Mullen ONE EV cargo vans with Ariel Fleet Holdings to provide commercial EVs to FedEx Independent Service Providers, Advanced Logistics Systems and Springbok Holdings. Ariel, based in Huntersville, North Carolina, will work with ALS and Springbok, to deploy and evaluate the Mullen THREE and Mullen ONE commercial EVs as last-mile delivery vehicles in North Carolina, Virginia and the surrounding mid- Atlantic Regi

Bollinger Innovations announces that the reverse stock split of its common stock that went into effect on Sept. 22, 2025, at 12:01 a.m. Eastern Time is expected to be the last reverse stock split the Company will implement for at least the next three years. The Company also recently announced the receipt of over $1M for commercial electric vehicles sold in August 2025. The reverse stock split was a necessary step to bring the Company into compliance with the $1.00 minimum bid price requirement for maintaining its Nasdaq listing. The Board of Directors and management believe this action, while primarily intended to meet Nasdaq's listing requirements, also sets the stage for a period of focused growth and value creation for our shareholders.

Bollinger Innovations received $1,074,035 for vehicles sold in August 2025. Payments were received Aug. 27, 2025 and Sept. 12, 2025, respectively from Pritchard Automotive for DB Schenker and Ziegler Truck Group for the previously announced sale of Class 1, 3 and 4 commercial electric vehicles on Sept. 4, 2025. "The sale to Ziegler Truck Group is an important momentum builder for Bollinger Innovations and combined with recent cost reductions helps continue to position the Company for success," said Jim Connelly, Chief Revenue Officer of Bollinger Motors. "Ziegler Truck Group is a key member of our national sales network and shares our vision for EVs and a more sustainable transportation future."