Brand Engagement Network terminates $50 million equity agreement

Brand Engagement Network Inc. (NASDAQ: BNAI) terminated its standby equity purchase agreement with YA II PN Ltd., an affiliate of Yorkville Advisors Global LP, the company announced February 5. The agreement, dated August 26, 2024, had permitted the company to sell up to $50 million of its common stock to the investor.

The termination was effective immediately with no outstanding obligations or advances under the facility. The artificial intelligence solutions provider used the facility for only one drawdown following its 1-for-10 reverse stock split that became effective December 12, 2025.

Brand Engagement Network recently closed the first installment of its $1.518 million premium private placement and expects remaining closings in February and March 2026. The company has approximately 5.8 million shares outstanding, with about 3.4 million in the public float.

"We remain focused on maintaining a disciplined capital strategy and a clean capital structure as we scale revenue-generating deployments," said Tyler Luck, chief executive officer.

The company provides artificial intelligence solutions for natural conversations, workflow automation, and real-world execution across text, voice, and avatar-based experiences. Its platform targets regulated and high-impact industries with its proprietary Engagement Language Model technology.

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