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The agreement was terminated without any funds being drawn down.
Brand Engagement Network Inc. (BNAI) announced the termination of its $50 million Standby Equity Financing Agreement. The agreement, which was in place to provide potential funding, was terminated without any funds being drawn down.
The Standby Equity Financing Agreement was valued at $50 million. The termination was a strategic decision by the company to cease this potential funding arrangement.
As of the latest company context, Brand Engagement Network Inc. has a free float of 2,826,800 shares and 4,514,000 shares outstanding.
This summary was generated by AI from public sources and may contain errors. Not financial advice. Trade at your own risk.