Winvest takes 9.99% stake in Bollinger Innovations, offers proposals for growth

Activist investor Jourdan Matthews, CEO of The Winvest Investment Fund Management Corp., announced that Winvest is interested in acquiring a majority stake in Bollinger Innovations (BINI), via a tender offer with the support of the board or, alternatively, will seek a board seat to improve operations. Winvest acquired its current stake to open board discussions for Winvest’s numerous proposals for growth, including: strategies for securing $15M or more in new funds; issuing a new dividend to shareholders immediately out of the $15M or more in proposed new funding; the strategic acquisition of another NASDAQ-listed company to create a key subsidiary that funds large-scale debt reduction in Bollinger; spinning-off or winding down the least profitable segments of Bollinger; and creating a new investment arm for Bollinger, aimed at generating capital gains and interest income. Commenting on Bollinger’s potential, Matthews said: “The company has absolutely vast potential – only if it uses its most valuable asset, which I am proposing the company unleash immediately.” Matthews also said of Bollinger: “Short interest is almost 1,500% right now and retail investors are furious; things have to change immediately, which is possible if the board manages its best asset correctly and uses it right away.” Matthews emphasized that there is no assurance that any of Winvest’s proposals will be adopted, and it is in the discretion of the board to take action on any or all of such proposals to improve the company. Bollinger has not endorsed these proposals.