Company: BNBX
Filing Date: 2025-01-10
Form Type: S-1/A
Source: 0001104659-25-002521
Chunk: 44

Company: BNB PLUS CORP.
Filing Date: 2025-01-10
Form: S-1/A
Chunk 44
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 by delivering to us a duly executed exercise notice and, at any time a registration
statement registering the issuance of the Common Stock underlying the Private Placement Warrants under the Securities Act is effective
and available for the issuance of such shares, or an exemption from registration under the Securities Act is available for the issuance
of such shares, by payment in full in immediately available funds for the number of Common Stock purchased upon such exercise. Subject
to limited exceptions, a holder of Private Placement Warrants will not have the right to exercise any portion of its Private Placement
Warrants if the holder, together with its affiliates, would beneficially own in excess of 4.99% (or, at the election of the purchaser
prior to issuance of the Private Placement Warrants, 9.99%) of the number of shares of our Common Stock outstanding immediately after
giving effect to such exercise. A holder may increase or decrease the beneficial ownership limitation up to 9.99%, provided, however,
that any increase in the beneficial ownership limitation shall not be effective until 61 days following notice of such change to the
Company.

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Cashless Exercise

If at the time of exercise there is no effective
registration statement registering, or the prospectus contained therein is not available for the issuance of the Common Stock underlying
the Private Placement Warrants, then the Private Placement Warrants may also be exercised, in whole or in part, at such time by means
of a cashless exercise, in which case the holder would receive upon such exercise the net number of common shares determined according
to the formula set forth in the Private Placement Warrant.

Under the alternate cashless exercise option
of the Series D Warrants, the holder of a Series D Warrant, has the right to receive an aggregate number of shares equal to
the product of (x) the aggregate number of shares of Common Stock that would be issuable upon a cash exercise of the Series D
Warrant and (y) 1.0.

Reverse Split

The Series D Warrants include a provision
that resets their exercise price in the event of a reverse split of our Common Stock, to a price equal to the lesser of (i) the
then exercise price and (ii) lowest volume weighted average price (VWAP) during the period commencing five trading days immediately
preceding and the five trading days commencing on the date we effect a reverse stock split in the future with a proportionate adjustment
to