Brand Engagement Network Inc. Issues 15,138 Shares on Warrant Exercise

What Happened Brand Engagement Network Inc. (BNAI) filed an 8-K on August 28, 2026, reporting that on August 27, 2026 it issued 15,138 shares of common stock upon the cash exercise of previously issued warrants by BEN Capital Fund I, LLC. The company received aggregate cash proceeds of $259,125.60. Following these exercises, none of the exercised warrants remain outstanding.

Key Details

• 15,138 total shares issued; 15,126 shares at $17.10 per share and 12 shares at $39.25 per share.
• Aggregate cash proceeds received: $259,125.60.
• Warrants exercised were issued in prior private transactions; the newly issued shares are restricted securities issued under Section 4(a)(2) and/or Regulation D.
• After these issuances, no remaining warrants from those exercises are outstanding.

Why It Matters

• This transaction provided the company with immediate cash of $259,125.60, which can be used for operations, growth, or working capital.
• The issuance increases the company’s outstanding common stock (the exact impact depends on total shares outstanding) and eliminates the future overhang from these specific warrants since none remain outstanding.
• The shares are restricted (private-exemption) and cannot be resold in the U.S. without registration or an applicable exemption, which may affect liquidity of these shares.