BNB Plus Corp. announces review of strategic alternatives

BNB Plus’ Board of Directors has authorized a formal review of strategic alternatives to maximize shareholder value and also provided an update on its Nasdaq listing status. The strategic alternatives under consideration include, but are not limited to, a merger, reverse merger, business combination, acquisition, asset sale, joint venture, additional capital raising transactions, or other strategic transactions. The Company is initially focusing its review on market sectors it believes have potential for high growth, including, artificial intelligence infrastructure, digital infrastructure, critical domestic raw materials, defense technologies, and healthcare among others. As of 1pm ET on April 18, the Company’s treasury had a value of approximately $12.2M, representing approximately 3.4x its current market capitalization. The Company has also recently implemented an active yield-generation strategy on its BNB token holdings, enabling the Company to potentially grow its BNB token treasury holdings during the strategic review process. The Company has retained Lucid Capital Markets as its financial advisor to assist in the strategic review process. The Company will continue to execute on its strategic and operating initiatives during the review process. The Company does not intend to provide updates on the strategic review process until its Board of Directors has approved a specific transaction or otherwise determines that disclosure is appropriate or required by law. The Company has not set a definitive timeline for this process and there can be no assurance that the review of strategic alternatives will result in any transaction being announced or consummated.