BEN agrees to acquire German media tech company Cataneo GmbH for $19.5M

Brand Engagement Network Inc.

Total purchase price $19.5M: $9M cash + 4.2M shares of BEN common stock valued at $2.50/share.
Cataneo's Mydas platform manages over €5B annual media spend, serving 5,000+ users across 1,000+ media brands in 4 continents.
Transaction expected to close Q4 2024; subject to financing, shareholder guarantees, regulatory approvals, and no delisting notice.
Up to $3M of stock consideration can be converted to cash at Sellers' election; 400,000 shares held in escrow for one year.
Also disclosed: ~$843,750 in Required Fundings from investors remain unpaid; SEPA Pricing Limitation did not become effective.

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