---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-24-033811"
form_type: "8-K"
ticker: "BNAI"
cik: "0001838163"
company_name: "Brand Engagement Network Inc."
filed_at: "2024-08-26T23:59:59+00:00"
generated_at: "2026-05-31T07:43:06.750686+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001493152-24-033811
- form_type: 8-K
- ticker: BNAI
- cik: 0001838163
- company_name: Brand Engagement Network Inc.
- filed_at: 2024-08-26T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 3.02, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1838163/000149315224033811/0001493152-24-033811-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1838163/000149315224033811/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-24-033811
- JSON: https://secwatch.observer/filing/0001493152-24-033811.json
- Plain text: https://secwatch.observer/filing/0001493152-24-033811.txt

## Key facts
- Executive change
  Dr. Richard Isaacs was appointed as Class I director at Brand Engagement Network Inc..
  - Action: appointed
  - Role: Class I director
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1838163/000149315224033811/0001493152-24-033811-index.htm

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