Company: BNBX
Filing Date: 2025-04-15
Form Type: DEF 14A
Source: 0001104659-25-034898
Chunk: 42

Company: BNB PLUS CORP.
Filing Date: 2025-04-15
Form: DEF 14A
Chunk 42
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 hold the meeting. As such, the Company is now seeking to obtain approval for Proposal No. 4 at the Annual Meeting. If we are able to obtain approval for Proposal No. 4 at the Annual Meeting, we will save time and avoid the expense of having additional meetings to obtain approval. Nasdaq Stockholder Approval Requirement; Reasons for the Warrant Exercise Proposal Nasdaq Listing Rule 5635(d) requires stockholder approval in connection with a transaction, other than a public offering, involving the sale or issuance by the issuer of common stock (or securities convertible into or exchangeable for common stock) equal to 20% or more of the common stock or 20% or more of the voting power of such company outstanding before the issuance for a price that is less than the lower of: (i) the closing price of the common stock immediately preceding the signing of the binding agreement for the issuance of such securities and (ii) the average closing price of the common stock for the five trading days immediately preceding the signing of the binding agreement for the issuance of such securities (such price, the “ Nasdaq Minimum Price ”). The Private Placement Warrants were issued in a private placement which is not a public offering and which resulted in the issuance of securities convertible into our Common Stock equal to more than 20% of the voting power of our outstanding Common Stock below the Nasdaq Minimum Price. Because of this, the Private Placement Warrants provide that they may not be exercised, and therefore have no value, unless stockholder approval of their exercise is obtained. The Board of Directors unanimously recommends a vote “For” the Warrant Exercise Proposal. 27

TABLE OF CONTENTS

PROPOSAL NO. 5 APPROVAL OF AN AMENDMENT TO THE COMPANY’S 2020 EQUITY INCENTIVE PLAN TO INCREASE THE NUMBER OF AUTHORIZED SHARES OF COMMON STOCK RESERVED FOR ISSUANCE BY THREE MILLION SHARES We are asking you to approve an amendment to the Company’s 2020 Equity Incentive Plan, a copy of which is attached as Appendix B hereto (the “ Plan Amendment ”), to increase the number of shares of Common Stock authorized for issuance by an additional three million. In this proxy statement, we refer to the Company’s current 2020 Equity Incentive Plan as the “Current Plan,” and we refer to the Current Plan, as modified by the Plan Amendment, as the “Amended Plan”. All shares listed in this section are calculated post Company reverse splits conducted on April 25,