BNAI enters warrant exercise agreement; reduces exercise price to $1.96; raises ~$2.1M

Brand Engagement Network Inc.

Exercise price of 1,074,999 May Warrants reduced to $1.96/share; Purchasers commit to cash exercise by Mar 27, 2025.
Upon exercise, Company issues Reload Warrants at $1.71/share (2-yr and 5-yr terms) and transfers Escrow Shares.
Total cash raised from Committed Warrant exercises is approximately $2.1 million over three tranches.
Nasdaq expects to issue non-compliance notice for minimum bid price $1.00; delisting risk acknowledged.
Company to file resale registration statement for Reload Warrants by July 15, 2025.

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