Company: BNBX
Filing Date: 2025-01-10
Form Type: S-1/A
Source: 0001104659-25-002521
Chunk: 24

Company: BNB PLUS CORP.
Filing Date: 2025-01-10
Form: S-1/A
Chunk 24
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 (i) $0.20 with respect to the May 2024
Series A Warrants as amended by the Warrant Amendment or (ii) the lowest volume weighted average price (VWAP) during the five
consecutive trading days immediately following such dilutive issuance or announcement thereof with respect to the remaining May 2024
Series A Warrants not amended by the Warrant Amendment. The number of shares issuable upon exercise after the Price Reset Mechanism will be proportionately adjusted such that the aggregate exercise price will remain unchanged.

In connection with the Offering, the Price Reset
Mechanism in the May 2024 Series A Warrants was triggered, which resulted in the number of shares of Common Stock issuable
upon exercise of the May 2024 Series A Warrants increasing from 9,230,769 to 91,890,698. The exercise price of the May 2024
Series A Warrants was adjusted from $1.99 per share to $0.20 per share with respect to the May 2024 Series A Warrants
amended by the Warrant Amendment, and to $0.19 with respect to the May 2024 Series A Warrants not amended by the Warrant Amendment.

If any of the above provisions in the May 2024 Series Warrants
are further utilized, our stockholders may suffer substantial dilution.

Stockholders may suffer substantial dilution if certain provisions in the Series D Warrants are utilized.

If the Series D Warrants are exercised
by way of an alternative cashless exercise, assuming receipt of Warrant Stockholder Approval, such exercising holder will receive one
share of Common Stock for each share of Common Stock they would receive in a cash exercise for each Series D Warrant they exercise,
without any cash payment to us.

In addition, 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 the number of shares underlying the Series D Warrants, subject to a floor of $0.0634.

If any of the above provisions in the Series Warrants are utilized,
our stockholders may suffer substantial dilution.

The exerc