NEW YORK, Sept 7 (Reuters) - Artificial intelligence startup Brand Engagement Network (BEN) on Thursday agreed to go public through a merger with a blank check acquisition company in a deal valuing the combined company at $358 million.
The deal with DHC Acquisition Corp (DHCA.O) will provide Brand Engagement Network with about $40 million in gross proceeds, the company said, confirming an earlier Reuters report.
Headquartered in Jackson, Wyoming, Brand Engagement Network is a provider of AI-powered chatbots and conversational AI technology to companies in industries like automotive, healthcare, and customer service.
Brand Engagement Network's AI offerings help companies with services, including data leakage prevention and identity verification.
SPACs are shell companies that raise money in an initial public offering and put it in a trust for the purpose of merging with a private company and taking it public.
Persons:
“ BEN, doesn't, ” Said Chris Gaertner, ChatGPT, SPACs, Cohen, Echo Wang, Anirban Sen, Leslie Adler, David Gregorio Our
Organizations:
DHC Acquisition Corp, DHC, Brand, Acquisition Corp, Nasdaq, Cohen & Company Capital Markets, Thomson
Locations:
PitchBook, Jackson , Wyoming, New York