BNBX 8-K
Bnb Plus Corp. (BNBX)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On September 2, 2026, Robert B. Catell, Joseph D. Ceccoli, and Dr. Yacov Shamash notified BNB Plus Corp. (the “Company”) of their resignation as directors of the Company, effective September 3, 2026. The resignation of Messrs. Catell and Ceccoli, and Dr. Shamash from the Company’s board of directors (the “Board”) was not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.
On September 2, 2026, the Board appointed Richard Shorten, Todd Larsen and Lok Lee, as directors, effective September 3, 2026, each to hold office until the next annual meeting of the Company’s stockholders and until their successors are elected and qualified or until their earlier death, disqualification, resignation or removal, to fill the vacancies created by the resignations of Messrs. Catell and Ceccoli, and Dr. Shamash.
Upon the effectiveness of their appointment, Messrs. Larsen and Lee will serve as members of the Board’s Audit Committee and Compensation Committee. Mr. Larsen will also serve as a member of the Board’s Nominating Committee.
The compensation for Messrs. Shorten, Larsen and Lee’s service on the Board will be agreed upon and entered into at a later date.
Except as set forth below, the Company is not aware of any transactions with Messrs. Shorten, Larsen, and Lee that would require disclosure under Item 404(a) of Regulation S-K.
Mr. Shorten has been actively involved in the development and operation of blockchain and AI infrastructure, including as Chairman of GlobalStake Infrastructure, LLC ("GlobalStake"), an institutional digital infrastructure platform. Mr. Shorten is the sole owner of Silvermine Capital Advisors, LLC (“Silvermine”), which is the controlling member of a limited liability company that owns approximately 40% of GlobalStake. Effective June 17, 2026, the Company entered into a strategic advisory engagement with GlobalStake pursuant to which it has paid GlobalStake a pre-paid advisory fee of $300,000 for the initial term. Under the engagement, GlobalStake will conduct a comprehensive strategic review of the Company’s business, assets, and capital structure over an initial four-month term. The review will be led by Mr. Shorten.
GlobalStake is affiliated with Comstock MultiChain Fund, LP (“Comstock”), an investment fund and current shareholder of the Company. Comstock MultiChain GP, LLC (“Comstock GP”), is the general partner of Comstock. Silvermine is an investment management firm focused on special situations and venture-stage investments in digital assets and related infrastructure, serves as investment adviser to Comstock pursuant to an investment management agreement under which Silvermine exercises investment discretion with respect to the securities held for the account of Comstock. Mr. Shorten is the majority owner and managing member of each of Comstock GP and Silvermine.
Comstock GP was a participant in the previously disclosed private placement which closed on October 23, 2025 (the “October 2025 PIPE”). Pursuant to the Cryptocurrency Securities Purchase Agreement, the Company sold and issued to Comstock GP 1,506,026 Cryptocurrency Prefunded Warrants, at an offering price of $3.32 per share, to purchase shares of Common Stock at a per share exercise price of $3.82 and 1,506,026 Series E-2 Warrants at a per share exercise price of $3.82, for gross proceeds of $5.0 million.
Additionally, Comstock GP was a participant in the previously disclosed May 2026 Private Placement which was consummated on June 30, 2026. Pursuant to the Warrant Inducement Exchange Agreement entered into with the Company (the "Inducement Agreement"), Comstock GP (1) exercised 195,784 shares of the Series E Warrants issued to it in the October 2025 PIPE, at an exercise price of $3.82 per share of Common Stock, in consideration for the Company issuing to Comstock GP 641,426 shares of Series B-1 Preferred Stock; and (2) delivered to the Company all pre-funded warrants issued to Comstock in the October 2025 PIPE in exchange for the Company issuing Series B-2 Prefunded Preferred Stock Purchase Warrants to purchase 1,151,810 shares of Series B-2 Preferred Stock, and 550,000 shares of Series B-2 Preferred Stock, for gross proceeds of $747.8 thousand.
Other than as disclosed herein, there are no arrangements or understandings between Messrs. Shorten, Larsen and Lee and any other person pursuant to which they are to be appointed directors of the Company.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| BNB Plus Corp. | ||
| Date: September 3, 2026 | By: | /s/ Clay Shorrock |
| Name: | Clay Shorrock | |
| Title: | Chief Executive Officer | |