BNAI enters private placement agreement for $1 million

Brand Engagement Network Inc. (NASDAQ: BNAI) announced it entered into a securities purchase agreement on June 3, 2026, for a private placement of 56,150 shares of common stock.

The company will sell shares to Ben Capital Fund I, LLC and Joseph Bevash at $17.82 per share, generating total gross proceeds of $1,000,593. The purchase price represents 120% of the company's closing stock price on May 29, 2026.

The investment will be funded through five monthly installments of $150,044.40, with the initial payment made on June 4, 2026. A final payment of $250,371 is scheduled for November 1, 2026.

Brand Engagement Network plans to use the proceeds to exercise warrants for purchasing 243,309 shares of common stock in Hightide Energy Inc., operating as Accelevate Solutions. The warrant exercises will occur as each funding tranche is received.

The securities purchase agreement includes 100% warrant coverage and contains standard representations, warranties, post-closing covenants, and indemnification provisions. The securities were sold under exemptions from Securities Act of 1933 registration requirements.

The complete securities purchase agreement has been filed as Exhibit 10.1 to the company's Current Report on Form 8-K.

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