Comstock MultiChain Fund Discloses Significant Stake in BNB PLUS CORP.

TL;DR

**Comstock MultiChain Fund just bought a big chunk of BNB PLUS CORP., signaling potential changes ahead.**

AI Summary

Comstock MultiChain Fund, L.P. filed a Schedule 13D on March 24, 2026, indicating they have acquired a significant beneficial ownership in BNB PLUS CORP. This filing signals that Comstock MultiChain Fund, L.P. now holds a substantial stake in BNB PLUS CORP., potentially influencing the company's future direction or operations. For existing or potential shareholders of BNB PLUS CORP., this matters because a large institutional investor taking a significant position can be seen as a vote of confidence, but it also means a new influential voice is at the table, which could lead to strategic changes.

Why It Matters

This filing reveals a major investor, Comstock MultiChain Fund, L.P., has taken a substantial position in BNB PLUS CORP., which could signal future strategic changes or increased investor confidence.

Risk Assessment

Risk Level: medium — A new significant shareholder can introduce both opportunities and uncertainties regarding company strategy and governance.

Analyst Insight

Investors should monitor future filings from Comstock MultiChain Fund, L.P. and BNB PLUS CORP. for any indications of activist intent or strategic changes, as a significant new shareholder can impact company governance and performance.

Key Players & Entities

• Comstock MultiChain Fund, L.P. (company) — the entity filing the Schedule 13D, indicating acquisition of beneficial ownership
• BNB PLUS CORP. (company) — the subject company in which beneficial ownership was acquired
• March 24, 2026 (date) — the filing date of the Schedule 13D
• 0001892613 (person) — CIK for Comstock MultiChain Fund, L.P.
• 0000744452 (person) — CIK for BNB PLUS CORP.

Forward-Looking Statements

• Comstock MultiChain Fund, L.P. will seek to influence the strategic direction of BNB PLUS CORP. (BNB PLUS CORP.) — medium confidence, target: 2027-03-24

FAQ

Key Financial Figures

• $0.001 — ame of Issuer) Common Stock, par value $0.001 per share (Title of Class of Securities
• $5 million — nt of Funds or Other Consideration   US$5 million in-kind purchase of certain warrants, a

Filing Documents

• primary_doc.html (SCHEDULE 13D)
• primary_doc.xml (SCHEDULE 13D) — 13KB
• JointFiling_Comstock.pdf (EX-99) — 43KB
• 0001892613-26-000004.txt ( ) — 74KB

Security and Issuer

Item 1. Security and Issuer (a) Title of Class of Securities: Common Stock, par value $0.001 per share (b) Name of Issuer: BNB PLUS CORP. (c) Address of Issuer's Principal Executive Offices: 50 HEALTH SCIENCES DRIVE, STONY BROOK, NEW YORK , 11790.

Identity and Background

Item 2. Identity and Background (a) Comstock MultiChain Fund, L.P. Comstock MultiChain GP, LLC Silvermine Capital Advisors, LLC Richard Shorten (each, a "Reporting Person") (b) each Reporting Person's address: c/o Silvermine Capital Advisors 85 Sherman Tpke Redding CT 06896 (c) Comstock MultiChain Fund L.P., a Delaware limited partnership ("Comstock"), is an investment fund. Comstock MultiChain GP, LLC ("Comstock GP"), a Connecticut limited liability company, is the general partner of Comstock. Silvermine Capital Advisors, LLC, a Connecticut limited liability company, serves as investment adviser to Comstock pursuant to an investment management agreement under which Silvermine Capital Advisors, LLC exercises investment discretion with respect to the securities held for the account of Comstock. Richard L. Shorten is a United States citizen and is the majority owner and managing member of each of Comstock GP and Silvermine Capital Advisors, LLC. By virtue of these relationships, Comstock GP, Silvermine Capital Advisors, LLC and Richard L. Shorten may be deemed to beneficially own the securities held by Comstock. (d) No such proceedings for any Reported Person (e) No such proceedings for any Reporting Person (f) USA

Source and Amount of Funds or Other Consideration

Item 3. Source and Amount of Funds or Other Consideration   US$5 million in-kind purchase of certain warrants, as further described in Item 5.

Purpose of Transaction

Item 4. Purpose of Transaction   The securities reported herein were acquired for investment purposes in the ordinary course of business. Representatives of Silvermine Capital Advisors, LLC have engaged, and may continue to engage, in discussions with members of the Issuer's management and board of directors regarding potential strategic transactions, including possible debt or equity investments or other capital-structure adjustments, and may explore or propose restructuring alternatives or communicate with other shareholders or third parties regarding such matters. No definitive agreement or decision has been reached in these discussions, and there can be no assurance that any transaction will occur. At present, there is no intention to seek any changes to the Issuer's board of directors. The Reporting Persons reserve the right, however, to change plans and intentions at any time and to take any actions that they deem appropriate, subject to applicable law.

Interest in Securities of the Issuer

Item 5. Interest in Securities of the Issuer (a) 604,602 which includes 598,557 shares of Common Stock of BNB Plus Corp. (the "Common Stock"), and 6,045 shares of Common Stock underlying certain warrants. In addition to the foregoing, Comstock is the record holder of pre-funded warrants that are exercisable for 907,469 shares of Common Stock (the "Pre-Funded Warrants") and Series E Warrants that are exercisable for 1,506,026 shares of Common Stock (the "Common Stock Warrants" and, together with the Pre-Funded Warrants, the "Warrants"). The Warrants each contain a beneficial ownership limitation so that in no event shall the holder's beneficial ownership exceed 9.99% (the "Blocker"), and therefore, the number of shares beneficially owned comprises the 598,557 shares directly owned and 6,045 of the shares of Common Stock underlying the Pre-Funded Warrants because the Blocker limits Comstock from exercising for any additional shares of Common Stock. Comstock is the record holder of the shares of Common Stock and the Warrants. Silvermine Capital Advisors, LLC, as the investment advisor of Comstock, has investment discretion over the shares of Common Stock directly held, the Warrants and the shares of Common Stock underlying the Warrants. Each of Silvermine Capital Advisors, LLC, Comstock GP, and Richard Shorten disclaims beneficial ownership of the securities reported herein except to the extent of its or his pecuniary interest therein, if any. (b) 9.99%, based on 5,447,469 shares of Common Stock outstanding as of February 9, 2026, as provided by the Issuer in its Form 10-Q for the quarter ending December 31, 2025, plus the 598,557 shares of Common Stock directly owned by the Reporting Persons (as subsequently confirmed by the Issuer's management), plus 6045 shares of Common Stock underlying the Warrants. (c) The exercise of Pre-Funded Warrants on 3/20/2026 for 598,557 at zero exercise price. (d) Comstock has the right to receive and the power to direct the rece

Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer

Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer   Comstock holds warrants, including but not limited to pre-funded warrants, to purchase shares of Common Stock (the "Warrants"), which are exercisable at any time (including within 60 days), subject to the Blocker described below. The Warrants are not, however, included in the beneficial ownership information reported herein because they contain a beneficial ownership limitation so that in no event shall the holder's beneficial ownership exceed 9.99% (the "Blocker"), and therefore the number of shares beneficially owned includes 6045 shares of Common Stock underlying the Warrants as the Blocker limits Comstock from exercising for any additional shares of Common Stock.

Material to be Filed as Exhibits

Item 7. Material to be Filed as Exhibits.   Exh 99.1 Joint Filing Agreement among the Reporting Persons     SIGNATURE     After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.   Comstock MultiChain Fund, L.P.   Signature: /s/ Richard L. Shorten Name/Title: Richard L. Shorten, Authorized Signatory Date: 03/24/2026   Comstock Multichain GP LLC   Signature: /s/ Richard Shorten Name/Title: Richard Shorten/Authorized Signatory Date: 03/24/2026   Silvermine Capital Advisors, LLC   Signature: /s/ Richard L. Shorten Name/Title: Richard L. Shorten/Managing Member Date: 03/24/2026   Shorten Richard Lee Jr.   Signature: /s/ Richard L. Shorten Name/Title: Richard L. Shorten/individual Date: 03/24/2026

View Full Filing

View this filing on SEC EDGAR