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BREA, Calif., Oct. 09, 2025 (GLOBE NEWSWIRE) -- via IBN – Bollinger Innovations, Inc. (NASDAQ:BINI) ("Bollinger Innovations" or the "Company"), an electric vehicle manufacturer, today announces that its common stock will commence trading on the OTCID market, which is part of the broader OTC Markets (the "OTC Markets"), effective, Monday, Oct. 13, 2025. The Company will continue to trade under stock ticker symbol, BINI. The OTCID market is designed to enhance investor confidence by requiring higher levels of corporate disclosure while offering stronger tools for information sharing and engagement.
Moving to the OTC Markets allows the Company to continue maximizing the value of its assets versus the regulatory requirements, the time management must dedicate to compliance and reporting, and the costs involved in maintaining a listing on the Nasdaq Stock Market ("Nasdaq"). The OTC Markets give investors access to many companies that may be less known and undervalued. The OTC Markets are also a far more flexible and cost-effective platform for public companies offering a range of reporting standards with less stringent requirements than the other major U.S. exchanges. The Company believes it will be able to better allocate financial resources that would otherwise be spent on higher exchange fees. This will allow Bollinger Innovations the operational flexibility necessary to execute its overall business strategy expanding its commercial EV market footprint. The Company believes that the transition to the OTC Markets will save expenses and should allow for a continued orderly trading market for its common stock.
The Company will continue to evaluate the various market tiers available within OTC Markets, including the OTCQB, as well as a possible return to a national exchange in the future. Along with Company's North American (domestic) trading strategy, the Company also plans to apply to list its securities on an international exchange to provide global trading coverage, including the Alternative Investment Market, a sub-market of the London Stock Exchange.
As previously reported in the Company's Current Reports on Form 8-K filed with the SEC on Feb. 28, 2025, and Aug. 29, 2025, the Staff of Nasdaq informed the Company that it was not in compliance, and had not regained compliance, with Nasdaq Listing Rule 5550(b)(2), which requires a market value of listed securities of at least $35 million. Although the Company timely requested a hearing, the Company informed Nasdaq of its intention to withdraw from the Nasdaq hearings process and transition the listing of its common stock from Nasdaq to the OTC Markets. The Company expects that its common stock will be suspended from trading on Nasdaq effective at the opening of trading on Monday, Oct. 13, 2025, and will have its common stock commence trading on the OTCID of the OTC Markets immediately thereafter. The Company anticipates that Nasdaq will file a SEC Form 25 which will formally delist the Company's common stock from Nasdaq in the near term. The Company will remain subject to the periodic reporting requirements of the U.S. Securities Exchange Act of 1934, as amended.
"Moving to the OTC Markets is a logical and financially prudent step for Bollinger Innovations," said David Michery, CEO and chairman of Bollinger Innovations and Bollinger Motors. "It allows us to significantly reduce our administrative burden, directly reinvesting those savings into accelerating our business strategy. We remain fully committed towards our investors as we continue our growth forward."
The Company's commercial EV lineup includes the Mullen ONE, a Class 1 urban delivery EV cargo van; the Mullen THREE, a Class 3 urban utility EV cab chassis truck purpose-built to meet the demands of urban last-mile delivery and service; and the Bollinger B4 chassis cab, an all-electric Class 4 commercial truck designed from the ground up with extensive fleet and upfitter input.
All vehicles are available for sale in the U.S. and in full compliance with U.S. Federal Motor Vehicle Safety Standards, the Environmental Protection Agency, and the California Air Resources Board ("CARB") certifications denoting strict adherence to clean air emissions standards.
Posted In: BINI
