BEN raises $4.95M in private placement at $2.50/share; promotes Paul Chang to Co-CEO

Brand Engagement Network Inc.

Private placement of 1.98M shares and 3.96M warrants at $2.50/share for total $4.95M purchase price.
Initial closing on May 30 for $500K; remaining funds due in monthly installments through Oct 2024.
Paul Chang promoted to Co-CEO alongside existing CEO Michael Zacharski, effective May 28, 2024.
If BEN fails to raise additional $3.25M by Oct 31, investors must exercise warrants for cash up to 1.3M warrants.
Proceeds to support development of conversational AI assistants and execution of growth strategy.

item 1.01 item 3.02 item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Paul Chang

Co-Chief Executive Officer

BNAI · Brand Engagement Network Inc.

Effective: 2024-05-28
Filed: May 29, 2024, 7:59 PM ET

On May 28, 2024, the Board appointed Paul Chang, the Company’s Global President, as the Co-Chief Executive Officer of the Company, effective immediately, with full power and authority of a Chief Executive Officer as prescribed in the Bylaws of the Company, to serve in such capacity until his successor is elected and qualified or until his earlier death, resignation, or removal

Role change

Michael Zacharski

Co-Chief Executive Officer

BNAI · Brand Engagement Network Inc.

Effective: 2024-05-28
Filed: May 29, 2024, 7:59 PM ET

concurrently with such appointment, Mr. Michael Zacharski, who currently serves as the Company’s Chief Executive Officer, will become Co-Chief Executive Officer.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 1.0

Paul Chang was appointed as Co-Chief Executive Officer at Brand Engagement Network Inc..

Action: appointed
Role: Co-Chief Executive Officer

Exact text from the filing

On May 28, 2024, the Board appointed Paul Chang, the Company’s Global President, as the Co-Chief Executive Officer of the Company, effective immediately, with full power and authority of a Chief Executive Officer as prescribed in the Bylaws of the Company, to serve in such capacity until his successor is elected and qualified or until his earlier death, resignation, or removal

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 1.0

Michael Zacharski changed role as Co-Chief Executive Officer at Brand Engagement Network Inc..

Action: will become
Role: Co-Chief Executive Officer

Exact text from the filing

concurrently with such appointment, Mr. Michael Zacharski, who currently serves as the Company’s Chief Executive Officer, will become Co-Chief Executive Officer.

View on SEC.gov

Brand Engagement Network Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-021730

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