Company: BNBX
Filing Date: 2025-10-30
Form Type: S-1
Source: 0001104659-25-103871
Chunk: 168

Company: BNB PLUS CORP.
Filing Date: 2025-10-30
Form: S-1
Chunk 168
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, 2,904outstanding common stock warrants held by other investors who did not participate in the RDO had their exercise price reduced to $ 12.18per warrant share and had their warrant expiration dates extended to August 2028. The foregoing reductions of the exercise price and extension of expiration dates of such warrants were approved by shareholders on April 15, 2024. The incremental change in fair value as a result of the modification for the warrants that are recorded as a liability was $ 1,633,767and is recorded as a unrealized loss on the change in fair value of warrants classified as a liability in the consolidated statement of operations for the fiscal year ended September 30, 2024. The incremental change in fair value as a result of the modification for the warrants that are recorded to equity was $ 155,330and is recorded as a deemed dividend in the consolidated statement of operations for the fiscal year ended September 30, 2024. ATM On November 7, 2023, the Company entered into an Equity Distribution Agreement (the “Equity Distribution Agreement”) with Maxim Group LLC, as sales agent (the “Agent”), pursuant to which the Company may, from time to time, issue and sell shares of its Common Stock in an aggregate offering price of up to $ 6,397,939through the Agent. The offer and sales of the shares of Common Stock made pursuant to the Equity Distribution Agreement, was made under the Company’s effective “shelf” registration statement on Form S-3. Under the terms of the Equity Distribution Agreement, the Agent may sell the shares of Common Stock at market prices by any method that is deemed to be an “at the market offering” as defined in Rule 415 under the Securities Act of 1933, as amended. As of September 30, 2024, the Company has issued 4,501shares of its Common Stock for net proceeds of approximately $ 64,397under this Equity Distribution Agreement. Effective January 30, 2024, the Company terminated the Equity Distribution Agreement by providing notice of termination to the Agent in accordance with the terms of the Equity Distribution Agreement. As a result of terminating the Equity Distribution Agreement, the $ 217,000of capitalized transaction costs were written off and are included in the consolidated statement of operations for the fiscal year ended September 30, 2024. As a result of the issuance of Common Stock under this Equity Distribution Agreement, the exercise price of the 22,891remaining warrants issued during