BEN Announces Expected Closing of Business Combination
March 13 2024 - 4:34PM
Business Wire
Brand Engagement Network Inc. (“BEN”), an emerging provider of
personalized customer engagement AI, today reported that it expects
to close its previously announced business combination (the
“Business Combination”) with DHC Acquisition Corp. (Nasdaq: DHCA)
tomorrow, Thursday March 14, 2024. DHC shareholders approved the
transaction at DHC’s extraordinary general meeting held on March 5,
2024.
The combined company will be named Brand Engagement Network and
expects to begin trading on the Nasdaq Stock Market on Friday,
March 15, 2024, under the ticker symbol “BNAI” for its common stock
and “BNAIW” for its publicly traded warrants.
About BEN
BEN (Brand Engagement Network) is a leading provider of
conversational AI technology and human-like AI avatars
headquartered in Jackson, WY. BEN delivers highly personalized,
multi-modal (text, voice, and vision) AI engagement, with a focus
on industries where there is a massive workforce gap and an
opportunity to transform how consumers engage with networks,
providers, and brands. The backbone of BEN’s success is a rich
portfolio of conversational AI applications that drive better
customer experience, increased automation and operational
efficiencies. BEN seeks to partner with companies with
complementary capabilities and networks to enable meaningful
business outcomes.
For more information about BEN, please visit:
https://beninc.ai/
About DHC Acquisition Corp.
DHC Acquisition Corp. (Nasdaq: DHCA) is a special purpose
acquisition company (SPAC) focused on partnering with an innovative
technology company. DHC’s mission is to invest in companies which
are charting the future of how humans and business interact at the
last mile, spanning enterprise infrastructure, industrial IoT,
automation, retail and E-commerce infrastructure, automotive, and
aerospace. We endeavour to enable the applications of innovative
technology and business models which bring goods, people, or
information to its final destination.
DHC’s approach to business is based on teamwork, integrity and
quiet professionalism, qualities we learned during our extensive
training in the military. We bring our unique hybrid experience and
our values into the corporate world, building high performing teams
in a range of specialized industries: technology, consumer,
aviation, defense, automotive, investment banking, capital markets,
and asset management. Our collective experience includes: >25
years as CEOs of public companies, 8 companies founded, 13
companies acquired, and >55 years in military leadership.
Forward-Looking Statements
This communication contains “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934 that are not
historical facts, and involve risks and uncertainties that could
cause actual results of DHC and BEN to differ materially from those
expected and projected. These forward-looking statements can be
identified by the use of forward-looking terminology, including the
words “believes,” “estimates,” “anticipates,” “expects,” “intends,”
“plans,” “may,” “will,” “potential,” “projects,” “predicts,”
“continue,” or “should,” or, in each case, their negative or other
variations or comparable terminology. These forward-looking
statements include, without limitation, statements regarding DHC’s
and BEN’s ability to complete the Business Combination on the terms
and timeline set forth in the Proxy Statement or at all.
These forward-looking statements involve significant risks and
uncertainties that could cause the actual results to differ
materially from the expected results. Most of these factors are
outside DHC’s control and are difficult to predict. Factors that
may cause such differences include, but are not limited to: the
inability of the Parties to successfully or timely consummate the
Business Combination; the risk that the Business Combination may
not be completed by DHC’s business combination deadline and the
potential failure to obtain an extension of the Business
Combination deadline by DHC; failure to realize the anticipated
benefits of the Business Combination; risks relating to the
uncertainty of the projected financial information with respect to
BEN; the occurrence of any event, change or other circumstance that
could give rise to the termination of the definitive transaction
agreement; BEN’s history of operating losses; BEN’s need for
additional capital to support its present business plan and
anticipated growth; technological changes in BEN’s market; the
value and enforceability of BEN’s intellectual property
protections; BEN’s ability to protect its intellectual property;
BEN’s material weaknesses in financial reporting; and BEN’s ability
to navigate complex regulatory requirements; the ability to
maintain the listing of DHC’s securities on a national securities
exchange; the ability to implement business plans, forecasts, and
other expectations after the completion of the Business
Combination; the effects of competition on BEN’s business; the
risks of operating and effectively managing growth in evolving and
uncertain macroeconomic conditions, such as high inflation and
recessionary environments; and continuing risks relating to the
COVID 19 pandemic. The foregoing list of factors is not
exhaustive.
DHC and BEN caution that the foregoing list of factors is not
exclusive. DHC and BEN caution readers not to place undue reliance
upon any forward-looking statements, which speak only as of the
date made. None of BEN nor DHC undertakes nor accepts any
obligation or undertaking to release publicly any updates or
revisions to any forward-looking statements to reflect any change
in its expectations or any change in events, conditions or
circumstances on which any such statement is based. Further
information about factors that could materially affect DHC,
including its results of operations and financial condition, is set
forth under “Risk Factors” in Part I, Item 1A of DHC’s Annual
Report on Form 10-K for the fiscal year ended December 31,
2022.
No Offer or Solicitation
This communication does not constitute an offer to sell or the
solicitation of an offer to buy any securities of BEN or DHC or a
solicitation of any vote or approval. No offer of securities shall
be made except by means of a prospectus meeting the requirements of
Section 10 of the Securities Act of 1933, as amended.
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version on businesswire.com: https://www.businesswire.com/news/home/20240313400845/en/
BEN Contacts
Investors: Ryan Flanagan, ICR
ryan.flanagan@icrinc.com
Media: Dan Brennan, ICR dan.brennan@icrinc.com
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