BEN Announces Private Placement at Premium to Market Price, Secures $50 Million Standby Equity Purchase Agreement
Brand Engagement Network Inc. (BNAI)
Company Research
Source: GlobeNewswire
JACKSON, Wyo., Aug. 26, 2024 (GLOBE NEWSWIRE) -- Brand Engagement Network Inc. (“BEN”) (Nasdaq: BNAI), an emerging provider of safe and secure customer engagement AI, today announced it has closed a private placement with existing investors to purchase shares of BEN’s common stock in the aggregate amount of $5.925 million. Concurrently, BEN announced that it has entered into a $50 million Standby Equity Purchase Agreement (“SEPA”) with Yorkville Advisors. Together, these two transactions provide the Company with increased financial flexibility and access to capital in support of strategic growth initiatives, expanded market validation, and production scaling of its human-like, conversational AI assistants. The private placement is backed by a group of existing BEN stockholders, who agreed to purchase 1.185 million shares of common stock at $5.00 per share, materially above the current trading price of the Company’s common stock. For each share purchased, investors received an add
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BNAI
News
- BEN Partners with KangarooHealth to Optimize Omnichannel Remote Patient Monitoring Support with GenAI PlatformGlobeNewswire
- BEN to Present at Upcoming Investor ConferenceGlobeNewswire
- BEN Contracts with IntelliTek to Broaden Global Access to AI Solutions for HealthcareGlobeNewswire
- BEN Contracts with INTERVENT® and Members Only Health® to Elevate Professional Development and Healthcare Access with AIGlobeNewswire
- BEN Welcomes Former Permanente CEO and Healthcare Leader, Richard S. Isaacs, to Board of DirectorsGlobeNewswire
BNAI
Sec Filings
- 9/26/24 - Form EFFECT
- 9/26/24 - Form EFFECT
- 9/25/24 - Form 424B3
- BNAI's page on the SEC website