other material
confidence high
sentiment positive
materiality 0.60
BEN issues 93,313 shares from warrant exercises and debt conversion; public warrants adjusted after reverse split
Brand Engagement Network Inc.
- Received $1.46M cash from exercises of warrants, ISOs, LTIP at $16.58-$37.00/share.
- Converted $737,500 of debt into shares; avg conversion price ~$23.51/share.
- Total shares outstanding now ~5.78M; public float ~3.13M (unaudited).
- Public warrants adjusted: exercise price $115.00, 1.64M outstanding post 1-for-10 reverse split.
- If all warrants exercised, gross proceeds ~$189M; working to update Nasdaq and brokerages.