Brand Engagement Network Inc. (BNAI) - Dilution Analysis
Visualizing historical and potential share dilution over time
Dilution Analysis
Risk Assessment Details
Summary
BNAI currently has 5.97M outstanding shares. with significant dilution risk as 13.2M authorized shares could dilute existing holders by 220.4%. The company has significantly diluted shareholders by 73.33% over the past 2 years, indicating aggressive capital raising. Recent corporate actions include 1 stock split (positive for accessibility) and 1 reverse split (concerning signal).
Share Structure Timeline
Historical Data Points
| Date | Event | Outstanding | Supply |
|---|---|---|---|
| Jun 03, 2026 |
8-K filing: Brand Engagement Network, Inc. completed its investment in HighTide Energy, Inc. by acquiring 243,309 shares of common stock for $1,000,000 and receiving a warrant to purchase an additional 243,309 shares. ($1.0M proceeds) |
6M | 13M |
| May 15, 2026 |
10-Q filing | 6.0M shares outstanding |
6M | 13M |
| Apr 23, 2026 |
8-K filing: Brand Engagement Network, Inc. entered into a Securities Purchase Agreement with Ben Capital Fund I, LLC for a private placement of 25,492 shares of the Company's common stock at $39.25 per share, for gross proceeds of $1,000,561, funded in two installments. ($1.0M proceeds) |
5.9M | 13M |
| Apr 16, 2026 |
10-K filing | 5.9M shares outstanding |
5.9M | 13M |
| Mar 09, 2026 |
8-K filing: Brand Engagement Network, Inc. completed the third and final closing under the Securities Purchase Agreement with Ben Capital Fund I, LLC, receiving the third installment payment of $506,000, completing the previously announced $1,518,000 private placement involving the sale of 24,000 shares of the Company's common stock at $63.25 per share. ($1.52M proceeds) |
4M | 13M |
| Dec 22, 2025 |
8-K filing: The company converted $504,684 of debt into equity at a conversion price of $2.10 per share. ($0.5M proceeds) |
4M | 13M |
| Dec 12, 2025 |
Stock Split
8-K filing: Stock split 1-for-10 | Outstanding: 40,140,364 → 4,014,036 |
4M | 1.3M |
| Jun 05, 2025 |
10-Q filing | 40.1M shares outstanding |
40M | 130M |
| Mar 31, 2025 |
10-K filing | 42.3M shares outstanding |
42M | 130M |
| Feb 14, 2025 |
S-1 filing: BRAND ENGAGEMENT NETWORK INC. is conducting a best efforts public offering of common stock, pre-funded warrants, and common warrants. |
36M | 130M |
| Feb 12, 2025 |
8-K filing: Brand Engagement Network Inc. entered into an addendum to its Share Purchase and Transfer Agreement with Christian Unterseer, CUTV GmbH, and CUNEO AG to amend certain provisions of the Purchase Agreement, including providing additional time to close the Acquisition of Cataneo GmbH. ($10.5M proceeds) |
36M | 130M |
| Jan 29, 2025 |
POS AM filing: This Post-Effective Amendment is being filed by Brand Engagement Network Inc. to deregister 1,075,000 shares of common stock. |
36M | 130M |
| Jan 14, 2025 |
8-K filing: Brand Engagement Network Inc. entered into a Warrant Exercise and Reload Agreement, reducing the exercise price of certain warrants and providing for the issuance of new warrants and the release of escrow shares upon exercise. ($2.11M proceeds) |
36M | 140M |
| Nov 14, 2024 |
10-Q filing | 35.5M shares outstanding |
36M | 140M |
| Oct 30, 2024 |
8-K filing: Brand Engagement Network Inc. entered into a Share Purchase and Transfer Agreement to acquire Cataneo GmbH for $19.5 million, including 4.2 million shares of BEN Common Stock at $2.50 per share, subject to potential cash election and escrow arrangements. ($10.5M proceeds) |
34M | 140M |
| Oct 07, 2024 |
8-K filing: Brand Engagement Network Inc. entered into Amendment No. 1 to the Purchase Agreement with certain investors to provide additional restrictions on the issuance of shares under its Standby Equity Purchase Agreement. ($5.93M proceeds) |
34M | 140M |
| Sep 16, 2024 |
S-1 filing: Brand Engagement Network Inc. is offering 28,370,786 shares of common stock, including shares that may be issued to YA II PN, Ltd. under a Standby Equity Purchase Agreement. |
34M | 140M |
| Sep 16, 2024 |
S-1 filing: This S-1 filing relates to the offer and sale of up to 3,598,943 shares of common stock by selling holders, including shares underlying warrants. |
34M | 140M |
| Aug 26, 2024 |
8-K filing: Brand Engagement Network Inc. entered into a securities purchase agreement to issue 1,185,000 shares of common stock at $5.00 per share, a share assignment and lockup release agreement, a warrant purchase agreement to issue 960,000 warrants, a letter agreement, and a standby equity purchase agreement with YA II PN, Ltd. for up to $50,000,000 of common stock. ($5.93M proceeds) |
34M | 96M |
| Aug 22, 2024 |
8-K filing: The Company issued 151,261 shares of Common Stock to DHC Sponsor, LLC at a value of $2.38 per share in exchange for the conversion of $360,000 of outstanding fees. ($0.36M proceeds) |
34M | 96M |
| Aug 14, 2024 |
10-Q filing | 34.0M shares outstanding |
34M | 96M |
| Aug 12, 2024 |
S-1/A filing: This S-1/A filing relates to the offer and sale of up to 6,393,333 shares of common stock (including shares underlying warrants) by selling holders, with the company not receiving any proceeds from the sale but potentially receiving cash from warrant exercises. |
33M | 96M |
| Jul 26, 2024 |
S-1/A filing: This S-1/A filing relates to the offer and sale of up to 8,102,276 shares of common stock (inclusive of shares underlying warrants) by selling holders, including shares issued under Securities Purchase Agreements and a Debt Conversion Agreement. |
33M | 98M |
| Jun 20, 2024 |
S-1 filing: Brand Engagement Network Inc. is offering 5,940,000 shares of common stock, inclusive of shares underlying warrants, by selling holders. |
33M | 95M |
| May 29, 2024 |
8-K filing: Brand Engagement Network Inc. entered into a Securities Purchase Agreement to issue 1,980,000 shares of common stock and 3,960,000 warrants for an aggregate purchase price of $4,950,000. ($4.95M proceeds) |
33M | 90M |
| May 14, 2024 |
10-Q filing | 33.3M shares outstanding |
33M | 90M |
| Apr 22, 2024 |
S-1/A filing: This S-1/A filing relates to the offer and sale of common stock, warrants to purchase common stock, and common stock issuable upon the exercise of warrants and options by selling holders and the company. |
33M | 90M |
| Apr 18, 2024 |
8-K filing: Brand Engagement Network Inc. issued a convertible promissory note to J.V.B. Financial Group, LLC in the principal amount of $1,900,000, which is convertible into a maximum of 1,583,334 shares of common stock. |
33M | 90M |
| Apr 12, 2024 |
S-1 filing: This S-1 filing describes the offer and sale of common stock and warrants by selling holders, as well as the issuance of common stock upon exercise of warrants and options. |
33M | 90M |
| Apr 01, 2024 |
10-K filing | 33.3M shares outstanding |
33M | 30M |
| Mar 20, 2024 |
8-K filing: BEN entered into subscription agreements with certain shareholders to purchase 25,000 shares of Common Stock at $10.00 per share, and the Sponsor transferred an aggregate of 25,000 shares of its Common Stock to the Subscribing Shareholders; Upon the Domestication and in connection with the completion of the Business Combination, BEN's Certificate of Incorporation authorized 750,000,000 shares of Common Stock and 10,000,000 shares of preferred stock. ($0.25M proceeds) |
750M | 30M |
| Nov 14, 2023 |
10-Q filing | 4.6M shares outstanding |
4.6M | 30M |
| Aug 14, 2023 |
10-Q filing | 4.6M shares outstanding |
4.6M | 30M |
| May 22, 2023 |
10-Q filing | 4.6M shares outstanding |
4.6M | 30M |
| Mar 30, 2023 |
10-K filing | 4.6M shares outstanding |
4.6M | 30M |
| Nov 14, 2022 |
10-Q filing | 30.9M shares outstanding |
31M | 30M |
| Aug 15, 2022 |
10-Q filing | 30.9M shares outstanding |
31M | 30M |
| May 13, 2022 |
10-Q filing | 30.9M shares outstanding |
31M | 30M |
| Mar 11, 2022 |
10-K filing | 30.9M shares outstanding |
31M | 30M |
| Nov 12, 2021 |
10-Q filing | 30.9M shares outstanding |
31M | 30M |
| Aug 16, 2021 |
10-Q filing | 30.9M shares outstanding |
31M | 30M |
| Jul 21, 2021 |
10-Q filing | 3.0M shares outstanding |
3M | 30M |
| Feb 23, 2021 |
S-1/A filing: DHC Acquisition Corp. is offering 25,000,000 units at $10.00 per unit, each unit consists of one Class A ordinary share and one-third of one redeemable warrant. |
7.2M | 30M |
| Feb 09, 2021 |
S-1 filing: DHC Acquisition Corp. is offering 25,000,000 units at $10.00 per unit, each unit consists of one Class A ordinary share and one-third of one redeemable warrant. |
7.2M | 30M |