Off the Chain reports 9.99% stake in BNB Plus
BNB PLUS CORP. disclosed that investment entities Off the Chain LP and Off the Chain Capital, LLC have jointly reported beneficial ownership of 460,343 shares of its common stock, representing 9.99% of the class.
Rhea-AI Filing Summary
BNB PLUS CORP. disclosed that investment entities Off the Chain LP and Off the Chain Capital, LLC have jointly reported beneficial ownership of 460,343 shares of its common stock, representing 9.99% of the class.
The position consists of 217,840 outstanding shares and 242,503 shares of common stock underlying warrants. The funds also hold additional pre-funded and common stock warrants exercisable for more shares, but a 9.99% beneficial ownership limitation in the warrants prevents them from exercising beyond this threshold. The filers state the securities are held in the ordinary course of business and not for the purpose of changing or influencing control of the company.
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Insights
Off the Chain reports a capped 9.99% economic stake via shares and warrants.
Off the Chain LP and Off the Chain Capital, LLC report beneficial ownership of 460,343 BNB PLUS CORP. common shares, or 9.99% of the class. This combines 217,840 outstanding shares with 242,503 shares currently counted from warrant holdings.
The disclosure notes substantial additional pre-funded and common stock warrants that are exercisable for more shares, but all warrants contain a 9.99% beneficial ownership limitation. That cap means the filer cannot exercise the full warrant position while maintaining Schedule 13G status.
The certification states the securities are held in the ordinary course of business and not to change or influence control. Future impact on ownership levels will depend on any changes to BNB PLUS CORP.’s outstanding share count and the filer’s warrant exercise decisions as disclosed in subsequent filings.
FAQ
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What percentage of BNBX common stock does Off the Chain report owning?
What types of BNB PLUS CORP. securities does Off the Chain hold?
Why is only part of Off the Chain’s BNBX warrant position counted in beneficial ownership?
How did BNB PLUS CORP. determine the ownership percentage reported by Off the Chain?
What is Off the Chain Capital, LLC’s role in managing BNB PLUS CORP. securities?
AI-generated analysis. How Rhea-AI works. Not financial advice.