Company: BNBX
Filing Date: 2025-01-10
Form Type: S-1/A
Source: 0001104659-25-002521
Chunk: 35

Company: BNB PLUS CORP.
Filing Date: 2025-01-10
Form: S-1/A
Chunk 35
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 preceding and the five trading days commencing on the
date we effect a reverse stock split in the future with a proportionate adjustment to the number of shares underlying the Series D
Warrants, subject to a floor of $0.0634.

Subject to limited exceptions, a holder of Private
Placement Warrants does 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.

Pursuant to the Purchase Agreement, within 20
calendar days from the date of the Purchase Agreement, we agreed to file a registration statement on Form S-1 providing for the
resale of the shares issuable upon exercise of the Private Placement Warrants. We agreed to use commercially reasonable efforts to cause
such registration statement to become effective within 50 calendar days following the closing date of the Purchase Agreement (or 90 calendar
days following the closing date of the Purchase Agreement in the event that the SEC requires the Company to include its audited year-end
financial statements for the fiscal year ended September 30, 2024 in such registration statement) and to keep such registration
statement effective at all times until no Selling Stockholder owns any Private Placement Warrants or shares of Common Stock issuable
upon exercise thereof.

We also agreed to hold the Special Meeting
on January 23, 2025 to obtain Warrant Stockholder Approval. If the Company does not obtain Warrant Stockholder Approval at the Special
Meeting, the Company is obligated to call a meeting every ninety days thereafter to seek Warrant Stockholder Approval until the earlier
of the date on which Warrant Stockholder Approval is obtained or the Series Warrants are no longer outstanding. The Company agreed
to file a preliminary proxy statement with respect to obtaining Warrant Stockholder Approval at the Special Meeting within 20 days following
the closing date of the Purchase Agreement, and such preliminary proxy statement was filed on November 14, 2024. We filed the definitive
proxy statement for the Special