Bollinger Innovations

Bollinger Innovations is launching a cost-cutting and restructuring program including layoffs and the closure of its Troy facility; remaining employees will be relocated to Oak Park. The company is discontinuing factory service and warranty support, centralizing operations, and notifying dealers of changed support models. Bollinger reported a negative EBITDA of $225.89 million, reduced quarterly cash outflows by 58% to $8.9 million, plans a 1-for-250 reverse stock split, and was moved from the NASDAQ to OTCID. Activist Jourdan Matthews has signaled interest in acquiring a majority stake or a board seat. » More on de.investing.com