Bollinger Innovations (BINI) announced on Tuesday that the company has eliminated all warrants and $25.3 million of convertible notes, strengthening its balance sheet.
The company entered into agreements with existing note holders to exchange convertible notes and warrants into newly created preferred stock.
“We have improved the Company’s financial position with the elimination of all warrants and $25.3 million of convertible notes,” said David Michery, CEO and chairman of Bollinger Innovations. “Our key investors continue to support us financially and by their willingness to eliminate debt and all warrants to improve our capital structure.”
