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(Nasdaq: BNAI) collected $259,125.60 in aggregate cash proceeds on August 27, 2026, when BEN Capital Fund I, LLC exercised a tranche of previously issued private warrants and received 15,138 restricted shares of common stock in return, extinguishing the exercised warrants entirely.
The transaction reads as routine housekeeping, and structurally it is.
What complicates the read-through is the spread between the two private exercise prices and the $115.00 level attached to BNAI's publicly listed redeemable warrants.
The 8-K, signed by Chief Executive Officer Tyler Luck and filed August 28, 2026, breaks the issuance into two tranches. The bulk, 15,126 shares, went out at an exercise price of $17.10 per share.
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