---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-080805"
form_type: "8-K"
ticker: "BNBX"
cik: "0000744452"
company_name: "BNB PLUS CORP."
filed_at: "2023-07-13T23:59:59+00:00"
generated_at: "2026-06-13T09:10:10.258468+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Applied DNA acquires Spindle Biotech for $625K cash + stock; launches LineaIVT mRNA platform

## Summary
- Total consideration: $625K cash, 750K restricted shares, up to 1M earn-out shares, and 10-year revenue share.
- Spindle's RNA polymerase combined with Applied DNA's linearDNA templates reduces dsRNA contamination in mRNA production.
- Aaron Chung, Spindle co-founder and CEO, joins Applied DNA as Director of Nucleic Acid Platforms.
- LineaIVT platform launched with early access program; targets >20% of mRNA manufacturing COGS.
- Transaction accounted for as asset acquisition; financials consolidated from July 12, 2023 closing.

## SEC filing metadata
- accession: 0001104659-23-080805
- form_type: 8-K
- ticker: BNBX
- cik: 0000744452
- company_name: BNB PLUS CORP.
- filed_at: 2023-07-13T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.01, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/744452/000110465923080805/0001104659-23-080805-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/744452/000110465923080805/tm2321212d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-080805
- JSON: https://secwatch.observer/filing/0001104659-23-080805.json
- Plain text: https://secwatch.observer/filing/0001104659-23-080805.txt

## Key facts
- M&A Transactions
  BNB PLUS CORP. completed an acquisition involving Spindle Biotech Inc. for cash of $625,000 and 750,000 restricted shares of common stock, plus potential earn-out (closed 2023-07-12).
  - Action: acquisition
  - Counterparty: Spindle Biotech Inc.
  - Consideration: cash of $625,000 and 750,000 restricted shares of common stock, plus potential earn-out
  - Closing: 2023-07-12
  source text: the transactions contemplated by the Purchase Agreement, the Purchaser agreed to pay or issue to the Sellers, as applicable, on a pro rata basis: (i) a cash purchase price of $625,000, as adjusted for debt of Spindle as of the closing date and expenses related to the transaction, which was paid to the Sellers on the Closing Date; (ii) 750,000 restricted shares
  evidence_url: https://www.sec.gov/Archives/edgar/data/744452/000110465923080805/0001104659-23-080805-index.htm
- Material Agreements
  BNB PLUS CORP. entered into Share Purchase Agreement with Spindle Biotech Inc., the Sellers, and Lai Him Chung valued at $625,000 (effective 2023-07-12).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: Spindle Biotech Inc., the Sellers, and Lai Him Chung
  - Value: $625,000
  - Effective: 2023-07-12
  source text: On July 12, 2023 (the “Closing Date”), Spindle Acquisition Corp., a corporation existing under the laws of the Province of Ontario (the “Purchaser”), and a wholly-owned subsidiary of Applied DNA Sciences, Inc., a Delaware corporation (the “Company”), entered into a Share Purchase Agreement (the “Purchase Agreement”) with Spindle Biotech Inc., a corporation existing under the federal laws of Canada (“Spindle”), the persons listed on Schedule 1.1 of the Purchase Agreement (the “Sellers”) and Lai Him Chung, as Seller Representative.
  evidence_url: https://www.sec.gov/Archives/edgar/data/744452/000110465923080805/0001104659-23-080805-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.