Current Report · Items 3.01, 7.01, 9.01 · 8-K
BNB Plus Corp.
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing · Regulation FD Disclosure
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On July 10, 2026, BNB Plus Corp. (the “Company”) received written notification (the “Delisting Notice”) from The Nasdaq Stock Market (“Nasdaq”) that the Nasdaq Hearings Panel (the “Panel”) has determined to delist the Company’s common stock, par value $0.001 per share (“Common Stock”), an…
Filed Jul 13, 2026Accepted Jul 13, 2026, 8:05 AM EDTCIK 744452Accession 0001104659-26-082893
Company context
We are a digital asset treasury company that has adopted BNB, the native cryptocurrency of the Binance blockchain ecosystem as its primary reserve asset. By using proceeds from financings, as well as potential cashflow from its operations, we seek to strategically accumulate BNB and utilize the accumulated BNB as a productive treasury asset to produce yield via Binance native and DeFi opportunities. The Company’s digital asset, digital asset receivable from custodian, and its investment in digital asset trust, comprises the Company’s digital asset treasury, or “DAT”.
Current securities
Historical securities (4)
Disclosure sections
Items 3.01, 7.01, 9.01Select an item to read the extracted section. The as-filed document remains the primary evidence.
Item 3.01Item 3.01 - Notice of Delisting
Item 3.01 Notice of Delisting or Failure to
Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On July 10, 2026, BNB Plus Corp. (the “Company”)
received written notification (the “Delisting Notice”) from The Nasdaq Stock Market (“Nasdaq”) that the Nasdaq
Hearings Panel (the “Panel”) has determined to delist the Company’s common stock, par value $0.001 per share (“Common
Stock”), and suspend trading of its Common Stock at the open of trading on July 14, 2026.
As previously reported on March 24, 2026,
the Company received written notice on March 20, 2026 (the “Notification Letter”) from the Listing Qualifications Department
of Nasdaq that the Company did not satsify the $1.00 bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2) for continued
listing on the Nasdaq Capital Market. The Company was informed that its Common Stock would be subject to delisting from Nasdaq unless
the Company timely requested a hearing before the the Panel. The Company timely requested a hearing before the Panel and had a hearing
before the Panel on April 30, 2026. On May 19, 2026, the Panel granted the Company an extension to regain compliance with the
$1.00 bid price requirement until June 11, 2026. On June 1, 2026, the Company informed the Panel that it would no longer be
pursuing a reverse stock split to regain compliance with the $1.00 bid price requirement but instead the Company asked for an additional
60-day extension to organically regain compliance with the $1.00 bid price requirement as it made announcements in connection with the
strategic review. In its Delisting Notice the Panel declined the Company’s extension request.
In accordance with Nasdaq Listing Rule 5820, the Company intends to request that the Nasdaq Listing and Hearing Review Council (the “Listing
Council”) review the Panel’s delisting determination in light of the Company’s recently closed financing and further
developments in connection with the Company’s ongoing strategic review process (the “Listing Council Review”). If the
Listing Council elects to review the matter, it may affirm, modify, reverse, or remand the Hearing Panel’s decision. The planned
request for Listing Council Review will not stay the Panel’s delisting determination, and trading of the Company's Common Stock
on the Nasdaq Capital Market will be suspended at the open of trading on July 14, 2026.
There can be no assurance that the Listing Council
will grant the Company's request for the Listing Council Review, or that the Listing Council Review will result in the continued listing
of the Company's Common Stock on the Nasdaq Capital Market. The Company's Common Stock is expected to continue trading on the OTCQB Venture
Market during the pendency of the Listing Council Review, and there can be no assurance as to whether or when the Company's Common Stock
may resume trading on the Nasdaq Capital Market.
In connection with the Panel’s decision,
Nasdaq will file a Form 25 with the Securities and Exchange Commission (the “SEC”) in accordance with Nasdaq Listing
Rule 5830 and Rule 12d2-2 promulgated under the Securities Exchange Act of 1934, as amended, after applicable appeal periods
have lapsed.
As a result of the suspension in trading and expected
delisting, the Company expects that its Common Stock will begin trading publicly on the OTCQB Venture Market, an over-the-counter market
operated by OTC Markets Group, under its existing symbol “BNBX” at the open of trading on July 14, 2026.
The OTCQB Venture Market
is a significantly more limited market than the Nasdaq, and quotation on the OTCQB Venture Market will likely result in a less liquid
market for existing and potential holders of the Company’s Common Stock to trade such securities and could further depress the trading
price of the Common Stock. The Company can provide no assurance that its Common Stock will continue to trade on this market, whether broker-dealers
will continue to provide public quotes of the its Common Stock on this market, or whether the trading volume of its Common Stock will
be sufficient to provide for an efficient trading market for existing and potential holders of its Common Stock.
The transition of the
Company’s Common Stock to the OTCQB Venture Market is not expected to affect the Company's business operations or its reporting
requirements under the rules of the SEC.
Item 7.01Item 7.01 - Regulation FD Disclosure
Item 7.01. Regulation FD Disclosure.
On July 13, 2026, the Company issued a press release announcing
its receipt of the Delisting Notice. A copy of the press release is being furnished herewith as Exhibit 99.1.
The information under this Item 7.01, including Exhibit 99.1,
shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, (the “Exchange
Act”) or otherwise subject to the liabilities of that section, and shall not be deemed to be incorporated by reference into the
filings of the Company under the Securities Act or the Exchange Act, except as shall be expressly set forth by specific reference in such
filing.
Filed exhibits (1)
EX-99.1 (by filename) tm2620287d1_ex99-1.htmEX-99.1
2
tm2620287d1_ex99-1.htm
EXHIBIT 99.1
Exhibit 99.1
BNB Plus Corp. (BNBX) Announces Nasdaq Delisting
Determination and Transition to OTCQB Market; Company to Seek Review by Nasdaq Listing and Hearing Review Council
Stony Brook, New York - BNB Plus Corp. (Nasdaq:
BNBX) (“BNB Plus” or the “Company”) today announced that it has received a delisting determination from the Hearing Panel of the Nasdaq
Stock Market LLC (“Nasdaq”) as a result of the Company’s non-compliance with the minimum $1.00 bid price requirement set forth
in Nasdaq Listing Rule 5550(a)(2) for continued listing on the Nasdaq Capital Market (the “Delisting Determination”).
In accordance with applicable Nasdaq rules, the Company intends to request that the Nasdaq Listing and Hearing Review Council (the “Listing
Council”) review the Delisting Determination in light of the Company’s recently closed financing and further developments
in connection with the Company’s ongoing strategic review process (the “Listing Council Review”). If the Listing Council
elects to review the matter, it may affirm, modify, reverse, or remand the Hearing Panel’s decision.
The planned request for Listing Council Review will not s…
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