Ben announces private placement at premium to market price, secures $50 million standby equity purchase agreement

Jackson, wyo., aug. 26, 2024 (globe newswire) -- brand engagement network inc. (“ben”) (nasdaq: bnai), an emerging provider of safe and secure customer engagement ai, today announced it has closed a private placement with existing investors to purchase shares of ben's common stock in the aggregate amount of $5.925 million. concurrently, ben announced that it has entered into a $50 million standby equity purchase agreement (“sepa”) with yorkville advisors. together, these two transactions provide the company with increased financial flexibility and access to capital in support of strategic growth initiatives, expanded market validation, and production scaling of its human-like, conversational ai assistants.
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