BNB Plus Corp. announced that it secured initial commitments for $4.1 million in convertible preferred stock financing, with the company expecting total proceeds to reach approximately $5 million. The financing is intended to strengthen the company’s digital asset treasury and provide working capital to support a broad strategic review of its operations and assets.
The company said that, based on valuations as of May 23, 2026, it expects to hold more than $16.4 million in cash and digital assets following completion of the financing.
Investors participating in the financing include Comstock Multichain Fund, managed by Silvermine Capital Advisors, along with other institutional digital asset investors, including Off the Chain, LP. As part of the transaction, BNB Plus will also enter into an advisory arrangement with GlobalStake Infrastructure, a SOC 2 Type II certified Web3 infrastructure company that will oversee the strategic review of the company’s business, assets, and capital structure.
BNB Plus said the review will focus on two primary strategic initiatives:
- Digital asset and infrastructure opportunities, including institutional yield generation strategies and opportunities tied to agentic AI and digital asset payment mechanisms.
- Monetization opportunities for its biotech subsidiary, LineaRx, Inc., including potential partnerships, licensing agreements, asset sales, or other shareholder value creation transactions.
The company noted that LineaRx, its therapeutic DNA production services subsidiary, recently achieved profitability during Q2 fiscal year 2026.
Richard Shorten, founder of Silvermine and chairman of GlobalStake, will lead the strategic review. According to the company, Shorten brings more than 30 years of experience across institutional finance, corporate law, telecom, media, and digital asset industries.
The financing consists of two series of convertible preferred stock that are senior to common stock and convertible into common shares on a one-for-one basis.
The Series B-1 Preferred Stock is priced at $1.05 per share, representing a 176% premium over the company’s May 22, 2026 closing stock price. The securities carry an 8% annual dividend and a 1.5x liquidation preference. These securities will primarily be issued to new investors and existing investors exercising certain warrants for cash.
The Series B-2 Preferred Stock is priced at $0.38 per share and carries a 6% annual dividend along with a 1.0x liquidation preference. These securities will be issued to certain existing investors who exchange common stock, exercised warrant shares, or pre-funded warrants.
BNB Plus also said that, during the first two years following closing, it may satisfy dividend obligations by adding accrued dividends to the principal value of the preferred shares instead of paying cash dividends, which the company said provides near-term financial flexibility.
In addition, investors participating in the Series B-1 financing will receive warrants to purchase additional common stock shares at an exercise price of $0.76, exercisable over a three-year period.
Additional details regarding the financing are expected to be disclosed in a forthcoming SEC Form 8-K filing.
KEY QUOTES:
“This financing marks a deliberate step forward for BNBX and reflects investor confidence in our operational trajectory and the distinct value proposition of our business. With a reduced cost structure and our LineaRx subsidiary (therapeutic DNA production services segment) recently achieving profitability in Q2 FY2026, we believe we have the operational foundation and now the capital resources to pursue a comprehensive strategic review focused on maximizing shareholder value.”
Clay Shorrock, Chief Executive Officer, BNB Plus Corp.
“As crypto markets rapidly evolve, digital asset treasury companies require increasingly sophisticated strategies to deliver shareholder value. I look forward to working closely with management and the Board to architect a path to realize the Company’s full potential in this dynamic industry.”
Richard Shorten, Founder, Silvermine Capital Advisors and Chairman, GlobalStake Infrastructure
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