Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(a) On February 14, 2022, Dr. Kumar Shiralagi, a director of Bannix Acquisition Corp. (the "Registrant") informed the Board of Directors of the Registrant that he was resigning his position as director for personal reasons effective February 16, 2022. Dr. Shiralagi's resignation was not due to any dispute with the Registrant.

(b) On February 14, 2022, the independent directors of the Registrant nominated Subbanarasimhaiah Arun to fill the vacancy created by the resignation of Dr. Shiralagi. His term will begin on February 16, 2022. Mr. Arun is expected to be appointed to the Audit, Compensation and Corporate Governance Committees of the Board of Directors. He will be appointed as Chairman of the Compensation Committee. Mr. Arun is a lawyer and will qualify as an independent director. There are no transactions between Mr. Arun and the Registrant of the type required to be disclosed by Item 404(a) of Regulation S-K.

(c) On February 16, 2022, Mr. Balaji Venugopal Bhat, an independent director, will cease to be the Chairman of the Compensation Committee and will be appointed as the Chairman of the Audit Committee. Mr. Bhat is a qualified Chartered Accountant and will qualify as an independent director and an audit committee financial expert.

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