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. The electric vehicle manufacturer's shares will continue trading on Nasdaq under the ticker symbol BINI on a split-adjusted basis beginning that day, with a new CUSIP number of 62526P877.
The reverse stock split, approved by stockholders on September 11, represents a critical corporate action designed to help the company regain compliance with Nasdaq's $1.00 minimum bid price requirement. This regulatory requirement is essential for maintaining the company's listing on the prestigious exchange, which provides greater visibility and access to institutional investors. The company has committed that this will be the final reverse stock split initiative for at least the next three years.
Under the reverse split terms, every 250 shares of common stock will be automatically converted into one share, dramatically reducing the outstanding share count from approximately 126.2 million to about 505,000 shares. The company will not issue fractional shares, with all fractional amounts being rounded up to the nearest whole share. This consolidation reflects the challenges facing emerging electric vehicle manufacturers in maintaining market confidence and stock performance amid competitive industry pressures.
Bollinger Innovations operates as a Southern California-based automotive company focused on developing the next generation of commercial electric vehicles. The company maintains a U.S. manufacturing facility in Tunica, Mississippi, and currently offers two commercial EV models: the ONE, a Class 1 EV cargo van, and the THREE, a Class 3 EV cab chassis truck, both available for sale in the United States. Additional information about the company's developments is available in their newsroom at https://ibn.fm/BINI.
The company's commercial dealer network consists of six established dealers, including Papé Kenworth, Pritchard EV, National Auto Fleet Group, Ziegler Truck Group, Range Truck Group, and Randy Marion Auto Group. These partnerships provide sales and service coverage across key West Coast, Midwest, Pacific Northwest, and Mid-Atlantic markets, supporting the company's market penetration strategy.
Bollinger Motors, an established EV truck company subsidiary based in Oak Park, Michigan, represents another component of Bollinger Innovations' operations. The subsidiary recently achieved significant milestones, including the production launch of its B4 Class 4 electric truck on September 16, 2024, and the development of an extensive dealer network with over 50 locations across the United States for comprehensive sales and service support.
The reverse stock split announcement comes at a pivotal time for the electric vehicle industry, where companies face increasing pressure to demonstrate financial stability and operational viability. Maintaining Nasdaq listing status is crucial for Bollinger Innovations' ability to attract investment and maintain credibility in the competitive automotive sector. Investors and market analysts will closely monitor the company's post-split performance and its ability to sustain the minimum bid price requirement over the coming quarters.
