Brand Engagement Network Inc. (NASDAQ: BNAI) has closed a $1,051,025 private placement at $8.50 per share, representing a more-than-20% premium over its Monday closing price of $7.07.
The Wilmington, Delaware-based enterprise AI software company issued 123,650 shares of common stock in the offering, which was led by returning investors BEN Capital Fund I, LLC and Joseph Bevash.
An initial tranche of $150,025 — representing 17,650 shares — closed with the remainder structured in five equal monthly installments of $180,200, with the final payment due February 5, 2027.
Investors received warrants covering 100% of their purchased shares, granting the right to buy up to an additional 123,650 shares at an exercise price of $8.50 per share within six months.
The offering was made pursuant to exemptions from the registration requirements of the Securities Act of 1933.
Tyler Luck, chief executive officer, described the investment as "another above-market commitment from investors who already know the company."
The $8.50 per-share price represents a continued downward trajectory in the company's private placement valuations. Brand Engagement Network priced prior 2026 rounds at $63.25, $39.25 and $17.82 per share before landing at the current level.
In June 2026, the company acquired Cataneo GmbH, a provider of enterprise advertising sales and media management software, as part of its expansion into ad-tech infrastructure.
