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Investing.com -- Bollinger Innovations Inc. (NASDAQ:BINI) stock plunged 59.9% in premarket trading Friday after the electric vehicle manufacturer announced it will be delisted from NASDAQ and begin trading on the OTCID market starting Monday, October 13, 2025.
The company said it failed to comply with NASDAQ’s listing rule 5550(b)(2), which requires a minimum market value of listed securities of $35 million. Although Bollinger initially requested a hearing to address the compliance issue, it subsequently withdrew from the NASDAQ hearings process.
NASDAQ is expected to file an SEC Form 25 to complete the formal delisting process. Despite the exchange transition, Bollinger stated it will continue trading under the same BINI ticker symbol and will maintain its periodic reporting requirements under the Securities Exchange Act of 1934.
David Michery, CEO and chairman of Bollinger Innovations, characterized the move as "a logical and financially prudent step" that would "significantly reduce our administrative burden, directly reinvesting those savings into accelerating our business strategy."
The company highlighted potential cost savings from reduced regulatory compliance and administrative requirements compared to maintaining a NASDAQ listing. Bollinger also indicated it may consider other OTC market tiers, including OTCQB, and potentially return to a national exchange in the future.
Additionally, the EV manufacturer revealed plans to apply for listing on an international exchange, specifically mentioning the Alternative Investment Market of the London Stock Exchange as a possibility.
Bollinger Innovations manufactures commercial electric vehicles including the Mullen ONE cargo van, Mullen THREE cab chassis truck, and Bollinger B4 chassis cab.
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