BEN Announces Closing of Business Combination, to Begin Trading on Nasdaq Under Symbol “BNAI”
March 14 2024 - 5:48PM
Business Wire
Brand Engagement Network Inc. (“BEN”), an emerging provider of
personalized customer engagement AI, today reported the closing of
its previously announced business combination (the “Business
Combination”) with DHC Acquisition Corp. (Nasdaq: DHCA). DHC
shareholders approved the transaction at DHC’s extraordinary
general meeting held on March 5, 2024.
The combined company is now called Brand Engagement Network Inc.
and is expected 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.
“We are pleased to complete our business combination with DHC
and begin our next chapter. As a pure play public AI company, we
expect BEN will continue to lead the design of business-safe AI
solutions. We are committed to AI that delivers to our customers
personalized consumer engagement, superior CX, productivity and
performance through helpful, friendly AI assistants,” said BEN CEO
Michael Zacharski. “We are incredibly grateful to our leadership
team, employees and partners around the world for their support in
our journey. We are looking forward to the future and believe BEN
is well-positioned to capitalize on significant growth
opportunities and generate substantial value for all
stakeholders.”
“BEN’s full-stack solution offers a scalable, customizable
human-like AI platform that can increase customer engagement while
delivering a safe, secure, consistent, and effective message,” said
DHC Co-CEO and CFO Chris Gaertner. “We are pleased that our
investors supported the merger and look forward to continuing our
partnership as long-term owners and supporters of BEN”.
BEN’s management team, led by CEO and Michael Zacharski, Global
President Paul Chang and CFO Bill Williams, will continue to lead
the public company following the Business Combination.
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/
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 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: 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.
BEN cautions that the foregoing list of factors is not
exclusive. BEN cautions readers not to place undue reliance upon
any forward-looking statements, which speak only as of the date
made. BEN does not undertake nor does it accept 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 and it does not intend to do
so unless required by applicable law. Further information about
factors that could materially affect BEN, including its results of
operations and financial condition, is set forth under “Risk
Factors” in DHC Acquisition Corp.’s Registration Statement on Form
S-4, filed with the Securities and Exchange Commission on October
17, 2023, as amended.
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BEN
Investors: Ryan Flanagan, ICR
ryan.flanagan@icrinc.com
Media: Dan Brennan, ICR dan.brennan@icrinc.com
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