Bollinger Innovations Announces 1-for-250 Reverse Stock Split to Maintain Nasdaq Listing

Bollinger Innovations Inc. (NASDAQ: BINI) will execute a 1-for-250 reverse stock split of its common stock effective September 22, 2025, at 12:01 a.m. Eastern Time, as the electric vehicle manufacturer seeks to maintain its Nasdaq listing compliance. The reverse split, approved by stockholders on September 11, represents an aggressive move to address the company's stock price challenges and meet Nasdaq's $1.00 minimum bid price requirement. The corporate action will automatically convert every 250 shares of common stock into one share, dramatically reducing the outstanding share count from approximately 126.2 million to about 505,000 shares. Trading will continue on Nasdaq under the ticker symbol BINI on a split-adjusted basis beginning September 22, with a new CUSIP number of 62526P877 assigned to the restructured shares. The company has committed that this will be the final reverse stock split initiative for at least the next three years, providing shareholders with some certainty regarding future corporate actions.

Bollinger Innovations, based in Southern California, operates as an electric vehicle manufacturer focusing on commercial EVs with its U.S. manufacturing facility located in Tunica, Mississippi. The company produces the ONE, a Class 1 EV cargo van, and the THREE, a Class 3 EV cab chassis truck, both available for sale in the U.S. market. Its commercial dealer network includes six established partners: Papé Kenworth, Pritchard EV, National Auto Fleet Group, Ziegler Truck Group, Range Truck Group and Randy Marion Auto Group, providing sales and service coverage across key regional markets. The company's subsidiary, Bollinger Motors of Oak Park, Michigan, represents the established EV truck division that has achieved significant milestones including the B4 Class 4 electric truck production launch on September 16, 2024. Bollinger Motors has developed an extensive dealer network with over 50 locations across the United States for comprehensive sales and service support. Investors can access the latest news and updates relating to BINI through the company's newsroom at https://ibn.fm/BINI.

This reverse stock split occurs amid broader challenges facing the electric vehicle sector, where many companies have struggled with production scaling, market adoption, and maintaining stock exchange listing requirements. The drastic consolidation ratio of 1-for-250 underscores the severity of the stock price situation Bollinger Innovations faced, though the company maintains its commitment to long-term growth in the commercial electric vehicle market. The move highlights the financial pressures on EV startups as they navigate capital markets while trying to establish manufacturing scale and market presence. For shareholders, the reverse split represents a significant dilution of per-share ownership, though it provides a temporary solution to maintain the company's public listing status. The company's pledge to avoid further reverse splits for three years offers a measure of stability, but the underlying challenges of achieving profitability and sustainable growth in a competitive EV landscape remain. The action serves as a critical indicator of the difficulties facing smaller EV manufacturers in meeting exchange requirements while funding operations and expansion in a capital-intensive industry.