BNB PLUS CORP. (BNBX): restructuring charge — Applied DNA cuts 60% of workforce ($1.4M charges), ticker changes to BNBX Oct 7

BNB PLUS CORP.

Reduces workforce by 16 employees (~60%) with estimated pre-tax charges of ~$1.4M for severance and benefits.
Restructuring substantially complete by end of October 2025; annualized cost savings of ~$2.9M expected.
Ticker symbol changes from APDN to BNBX on Nasdaq effective October 7, 2025, reflecting BNB treasury strategy.
Company to focus on yield-generating BNB digital asset treasury and decentralized finance integration.
No stockholder action required; CUSIP and listing unchanged.

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.95

BNB PLUS CORP. announced a restructuring with charges of $1.4 million aggregate pre-tax charges for severance payments, employee benefits, and related costs affecting workforce reduction, reduction of 16 employees (approx. 60%) (reduction of the Company’s current workforce by sixteen employees, or approximately 60%).

Type: restructuring
Charge: $1.4 million aggregate pre-tax charges for severance payments, employee benefits, and related costs
Affected area: workforce reduction, reduction of 16 employees (approx. 60%)
Headcount: reduction of the Company’s current workforce by sixteen employees, or approximately 60%

Exact text from the filing

On September 30, 2025, the Board of Directors of Applied DNA Sciences, Inc. (the “ Company ”) authorized, and its officers implemented, a restructuring plan pursuant to which the Company will reduce overall operating expenses to focus resources on its previously announced BNB-focused treasury strategy. The restructuring plan includes a reduction of the Company’s current workforce by sixteen employees, or approximately 60%. The Company estimates that it will incur aggregate pre-tax charges of approximately $1.4 million in connection with the reduction-in-force, primarily consisting of severance payments, employee benefits, and related costs.

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6 restructurings & charges filed in the last 30 days. Browse all restructurings & charges →

BNB PLUS CORP. filing history →

Source: SEC EDGAR

accession 0001104659-25-097097

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