Company: BNBX
Filing Date: 2025-04-04
Form Type: PRE 14A
Source: 0001104659-25-032262
Chunk: 26

Company: BNB PLUS CORP.
Filing Date: 2025-04-04
Form: PRE 14A
Chunk 26
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 under Rule 5810 with respect to that security, and the Common Stock would be subject to delisting by Nasdaq without any opportunity for a cure period. The Company completed a reverse stock split March 14, 2025 (the “ March 2025 Reverse Stock Split ”). If the Company implements the Reverse Stock Split after the price of our Common Stock fails to satisfy the Minimum Bid Price Requirement and on or before March 14, 2026, the Company will not be eligible for any compliance period specified in Rule 5810(c)(3)(A) and the Listing Qualifications Department will issue a Staff Delisting Determination under Rule 5810 with respect to our Common Stock, which would then be subject to delisting by Nasdaq. In addition, if the Company implements the Reverse Stock Split after the price of our Common Stock fails to satisfy the Minimum Bid Price Requirement and on or before March 14, 2027 with a cumulative ratio combined with the March 2025 Reverse Stock Split of 250 shares or more -to -one, the Company will not be eligible for any compliance period specified in Rule 5810(c)(3)(A) and the Listing Qualifications Department will issue a Staff Delisting Determination under Rule 5810 with respect to our Common Stock, which would then be subject to delisting by Nasdaq. If the Company effects the Reverse Stock Split while its Common Stock satisfies the Minimum Bid Price Requirement, the Reverse Stock Split would not trigger delisting under new Nasdaq Rule 5810(c)(3)(A)(iv). For these reasons and others, delisting would adversely affect the liquidity, trading volume, investor interest and price of our Common Stock, causing the value of an investment in us to decrease and having an adverse effect on our business, financial condition and results of operations, including our ability to attract and retain qualified employees and to raise capital. Reverse Stock Split Ratio If approved by stockholders, this Reverse Split Proposal would permit but not require the Board to effect the Reverse Stock Split at any time prior to the one-year anniversary date of the Annual Meeting by the Reverse Stock Split Ratio, with the specific ratio to be fixed within this range by the Board in its sole discretion without further stockholder approval. We believe that enabling the Board to fix the specific Reverse Stock Split Ratio within the stated range will provide us with the flexibility to implement it in a manner designed to maximize the anticipated benefits for our stockholders. In fixing the Reverse Stock Split Ratio, the Board may consider, among other