M&A - MULLEN AUTOMOTIVE INC.

Form Type: 8-K

Filing Date: 2025-06-02

Corporate Action: Acquisition

Type: New

Accession Number: 000182912625004128

Filing Summary: Mullen Automotive Inc. entered into a Settlement and Release Agreement with Robert Bollinger and the receiver for Bollinger Motors, Inc. This agreement stems from a lawsuit alleging breach of contract regarding a $10 million secured promissory note. Under the terms, Mullen agreed to pay $11 million to dismiss the lawsuit and release claims against both parties. Additionally, the Lender will transfer all shares of Bollinger to Mullen, increasing Mullen's ownership of Bollinger to 95%. On the same date, the court discharged the Receiver and dismissed the lawsuit with prejudice. A press release regarding this settlement was also issued on June 2, 2025.