Financial Developments - Brand Engagement Network, Inc. (BEN) received $818,302.70 in cash proceeds from warrant exercises and executed a $1.518 million private placement, enhancing its balance sheet and financial flexibility [1][2] - The company repaid $640,332.46 in outstanding loans, including $630,332.46 to Hana Bank, South Korea, fulfilling its liabilities under the Asset Purchase Agreement dated May 3, 2023 [1] Private Placement Details - BEN entered into a securities purchase agreement for a $1.518 million private placement with Ben Capital Fund I, LLC, priced at $63.25 per share, resulting in the issuance of 24,000 shares of common stock [2] - The investment will be funded in three equal installments of $506,000, with closings scheduled for January 30, February 25, and March 25, 2026 [2] Management Commentary - Tyler Luck, CEO of BEN, stated that the recent financial activities reflect the company's execution of its financial strategy, strengthening its balance sheet and positioning it for future business objectives [3] Company Overview - Brand Engagement Network, Inc. is a provider of secure, enterprise-grade artificial intelligence solutions designed for regulated and high-impact industries, focusing on enhancing customer engagement and operational modernization [4]
Brand Engagement Network Secures $1.518M Premium Private Placement at $63.25 a Share, Strengthens Balance Sheet with $818K in Warrant Proceeds, Full Debt Repayment