By Chris Wack

Brand Engagement Network shares were 28% higher, at $28.61, after the company terminated its standby equity-purchase agreement, dated Aug. 26, 2024, with YA II PN, an affiliate of Yorkville Advisors Global.

The agreement previously permitted Brand Engagement to sell up to $50 million of its common stock to the investor from time to time.

The technology company on Thursday said the termination was effective immediately, with no outstanding obligations or advances under the facility. Since the company's 1-for-10 reverse stock split became effective Dec. 12, it has used the facility for only one drawdown, it said.

The company said it recently closed the first installment of its $1.518 million premium private placement and that it anticipates the remaining closings in February and March.

Brand Engagement shares have traded in a wide range recently, hitting their 52-week low of $1.18 on Dec. 26 and their 52-week high of $86.28 on Jan. 28. The stock is 634% higher in the past 12 months.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

February 05, 2026 09:54 ET (14:54 GMT)

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