Company: BNBX
Filing Date: 2025-04-15
Form Type: DEF 14A
Source: 0001104659-25-034898
Chunk: 32

Company: BNB PLUS CORP.
Filing Date: 2025-04-15
Form: DEF 14A
Chunk 32
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-Reverse Stock Split Common Stock. Fractional Shares The Company will not issue fractional shares in connection with the Reverse Stock Split. Instead, stockholders who would otherwise be entitled to receive a fractional share as a result of the Reverse Stock Split will receive one whole share of our Common Stock in lieu of such fractional share. Effect of the Reverse Stock Split on Stock Option Awards and Equity Incentive Plans If the Reverse Stock Split is implemented, proportionate adjustments will be made to the per share exercise price, and the number of shares of our Common Stock issuable upon the exercise, of all outstanding options and to the number of shares of our Common Stock issuable upon the vesting and settlement of all outstanding restricted stock units (“ RSUs ”). These adjustments would result in approximately the same aggregate exercise price being paid upon the exercise of such options, and approximately the same value of shares of our Common Stock being delivered upon the exercise of such options and upon the vesting and settlement of such RSUs, immediately preceding and immediately following the Reverse Stock Split. However, to comply with certain regulations under the Internal Revenue Code of 1986, as amended (the “ Code ”), the per share exercise price of each outstanding option would be rounded up to the nearest whole cent, and the number of shares of our Common Stock that could be acquired upon the exercise of each outstanding option would be rounded down to the nearest whole share. The number of shares of our Common Stock reserved for issuance pursuant to the 2005 Incentive Stock Plan, as amended (the “ 2005 Plan ”), and the Company’s current 2020 Equity Incentive Plan (the “ Current Plan ”) will be reduced proportionately based upon the Reverse Stock Split Ratio. Effect of the Reverse Stock Split on Warrants In addition to adjusting the number of shares of our Common Stock, we would adjust all shares underlying any of our outstanding warrants as a result of the Reverse Stock Split, as required by the terms of these securities. In particular, we would reduce the conversion ratio for each instrument, and would increase the applicable exercise price or conversion price in accordance with the terms of each instrument and based on the Reverse Stock Split Ratio. The company has certain Series A warrants, Series B warrants (the “ Series B Warrants ”) and Series D Warrants (as defined in Proposal No. 4 below) that include a provision that resets their respective exercise price, conditioned upon the receipt of Warrant Stockholder Approval with respect to the Series D Warrants as more fully described in Proposal