Brand Engagement Network Inc. Files 8-K with Material Agreements
Ticker: BNAIW · Form: 8-K · Filed: Aug 26, 2024 · CIK: 1838163
| Field | Detail |
|---|---|
| Company | Brand Engagement Network INC. (BNAIW) |
| Form Type | 8-K |
| Filed Date | Aug 26, 2024 |
| Risk Level | medium |
| Pages | 11 |
| Reading Time | 13 min |
| Key Dollar Amounts | $0.0001, $11.50, $5.00, $5,925,000, $250,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, equity-sale, executive-changes
Related Tickers: BNAI
TL;DR
BNAI dropped an 8-K: material agreement, equity sales, exec changes, and more. Watch this space.
AI Summary
Brand Engagement Network Inc. (BNAI) announced on August 26, 2024, the entry into a material definitive agreement. The company also disclosed information regarding unregistered sales of equity securities, departure of directors, election of directors, appointment of officers, and compensatory arrangements for certain officers. Additionally, a Regulation FD Disclosure and financial statements/exhibits were filed.
Why It Matters
This 8-K filing indicates significant corporate actions, including new agreements and changes in leadership, which could impact the company's strategic direction and financial performance.
Risk Assessment
Risk Level: medium — The filing involves material definitive agreements, unregistered equity sales, and executive changes, which can introduce uncertainty and potential risks.
Key Numbers
- 11.50 — Warrant Exercise Price (Indicates the price at which redeemable warrants can be exercised for common stock.)
Key Players & Entities
- Brand Engagement Network Inc. (company) — Filer
- DHC Acquisition Corp. (company) — Former Company Name
- August 26, 2024 (date) — Earliest Event Reported
FAQ
What is the nature of the material definitive agreement entered into by Brand Engagement Network Inc.?
The filing indicates the entry into a material definitive agreement, but the specific details of this agreement are not provided in the provided text.
What type of equity securities were sold under the unregistered sales disclosure?
The filing mentions 'Unregistered Sales of Equity Securities' but does not specify the type or amount of securities sold in the provided text.
Were there any changes in the board of directors or executive officers?
Yes, the filing includes 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers' and 'Compensatory Arrangements of Certain Officers'.
What is the former name of Brand Engagement Network Inc.?
The former name of Brand Engagement Network Inc. was DHC Acquisition Corp., with a date of name change on December 29, 2020.
What is the exercise price for the redeemable warrants mentioned?
The redeemable warrants are exercisable for one share of common stock at an exercise price of $11.50 per share.
Filing Stats: 3,201 words · 13 min read · ~11 pages · Grade level 12.7 · Accepted 2024-08-26 08:03:58
Key Financial Figures
- $0.0001 — ch registered Common Stock, par value $0.0001 per share BNAI The Nasdaq Stock Mar
- $11.50 — of Common Stock at an exercise price of $11.50 per share BNAIW The Nasdaq Stock Ma
- $5.00 — "Common Stock") at a price per share of $5.00 (the "Shares"), subject to customary ad
- $5,925,000 — nts, for an aggregate purchase price of $5,925,000 (collectively, the "Financing"). On A
- $250,000 — hall pay to the Company an aggregate of $250,000. Additionally, the Company will issue t
- $500,000 — adline $250,000 September 5, 2024 $500,000 October 5, 2024 $800,000 November
- $800,000 — 5, 2024 $500,000 October 5, 2024 $800,000 November 5, 2024 $825,000 Decembe
- $825,000 — 5, 2024 $800,000 November 5, 2024 $825,000 December 5, 2024 $875,000 January
- $875,000 — 5, 2024 $825,000 December 5, 2024 $875,000 January 5, 2025 $875,000 February
- $875,000 M — 5, 2025 $875,000 February 5, 2025 $875,000 March 5, 2025 $675,000 April 5, 2025
- $675,000 — ry 5, 2025 $875,000 March 5, 2025 $675,000 April 5, 2025 In the event a Purcha
- $3,250,000 — . Upon the receipt of an aggregate of $3,250,000 of actual cash proceeds from the Financ
- $50,000,000 — obligation, to sell to Yorkville up to $50,000,000 of the Company's shares of Common Stock
- $25,000 — (i) a structuring fee in the amount of $25,000 and (ii) a commitment fee of $500,000 b
- $500,000 b — of $25,000 and (ii) a commitment fee of $500,000 by the issuance to Yorkville of an aggreg
Filing Documents
- form8-k.htm (8-K) — 81KB
- ex10-1.htm (EX-10.1) — 233KB
- ex10-2.htm (EX-10.2) — 114KB
- ex10-3.htm (EX-10.3) — 71KB
- ex10-4.htm (EX-10.4) — 25KB
- ex10-5.htm (EX-10.5) — 305KB
- ex99-1.htm (EX-99.1) — 15KB
- 0001493152-24-033811.txt ( ) — 1196KB
- bnai-20240826.xsd (EX-101.SCH) — 4KB
- bnai-20240826_def.xml (EX-101.DEF) — 26KB
- bnai-20240826_lab.xml (EX-101.LAB) — 36KB
- bnai-20240826_pre.xml (EX-101.PRE) — 25KB
- form8-k_htm.xml (XML) — 6KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. BRAND ENGAGEMENT NETWORK INC. By: /s/ Paul Chang Name: Paul Chang Title: Chief Executive Officer Dated: August 26, 2024