BEN raises $5.925M in private placement at $5.00/share, secures $50M SEPA with Yorkville

Brand Engagement Network Inc.

Private placement of 1,185,000 shares at $5.00/share for $5.925M aggregate; monthly installments through April 2025.
Existing investors receive additional shares from stockholders; transferring holders get 960,000 warrants at $5.00/share, 5-year term.
SEPA with Yorkville: up to $50M over 3 years; shares sold at 96–97% of VWAP; requires SEC registration.
Dr. Richard Isaacs appointed as Class I director effective upon initial closing of private placement.
Lockup released on 1,252,500 shares for certain transferring stockholders in exchange for shares assigned to investors.

item 1.01 item 3.02 item 5.02 item 7.01 item 9.01

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Appointed

Dr. Richard Isaacs

Class I director

BNAI · Brand Engagement Network Inc.

Filed: August 26, 2024, 7:59 PM ET

On August 26, 2024, in connection with the Financing, the Board appointed Dr. Richard Isaacs as a Class I director of the Company, effective upon the Initial Closing Date to fill an existing vacancy on the Board.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Dr. Richard Isaacs was appointed as Class I director at Brand Engagement Network Inc..

Action: appointed
Role: Class I director

Exact text from the filing

On August 26, 2024, in connection with the Financing, the Board appointed Dr. Richard Isaacs as a Class I director of the Company, effective upon the Initial Closing Date to fill an existing vacancy on the Board.

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Brand Engagement Network Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-033811

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