Intel stock spikes after report of possible US government stake
NEW YORK - BNB Network Company, the treasury management business of CEA Industries Inc. (NASDAQ:BNC), announced Monday it has purchased 200,000 BNB tokens as part of its strategy to become the largest corporate holder of BNB globally. The announcement comes as BNC’s stock shows significant momentum, with a 166% return over the past year. According to InvestingPro analysis, the company’s stock currently appears overvalued relative to its Fair Value.
The acquisition follows a $500 million private placement led by 10X Capital in partnership with YZi Labs. The company has repositioned its treasury strategy to focus exclusively on BNB as its primary reserve asset.
Following this strategic shift, BNC has undergone leadership changes with David Namdar, co-founder of Galaxy Digital, appointed as CEO. The executive team now includes Russell Read, former CIO at CalPERS, and former Kraken director Saad Naja. 10X Capital’s Hans Thomas and Alexander Monje have joined the company’s board of directors. The company maintains a strong liquidity position with a current ratio of 4.17, indicating ample assets to cover short-term obligations.
The $160 million purchase represents the first major acquisition in BNC’s plan to deploy its initial treasury capital fully into BNB tokens. According to the company’s statement, BNC may access up to an additional $750 million through its warrant structure, potentially bringing total proceeds to $1.25 billion for further BNB acquisitions.
BNB is currently the fourth-largest cryptocurrency by market capitalization and the native token of BNB Chain. As of July 2025, BNB has approximately 250 million users and an average daily trading volume of $9.3 billion, according to the press release.
The company recently changed its Nasdaq ticker from VAPE to BNC to reflect its new focus on building BNB exposure. BNC states its strategy aims to provide U.S. and global investors exposure to BNB without requiring direct token ownership. With a market capitalization of $14.39 million and revenue growth of 24.07%, InvestingPro subscribers can access 10 additional key insights about BNC’s financial health and growth prospects.
In other recent news, CEA Industries Inc. has initiated a private placement offering, according to a filing with the Securities and Exchange Commission. The company entered into agreements with accredited investors to sell 41,754,478 shares of common stock at $10.10 per share. Additionally, pre-funded warrants to purchase up to 7,750,510 shares and stapled warrants for up to 49,504,988 shares at an exercise price of $15.15 per warrant are part of the offering. CEA Industries also announced a change in its fiscal year end from December 31 to April 30, aligning with the reporting periods of recently acquired companies, including Fat Panda Ltd. The company will change its Nasdaq ticker symbol from "CEAD" to "VAPE" to reflect its strategic shift toward the vaping industry. This follows the acquisition of Fat Panda, a Canadian vape retailer. Furthermore, CEA Industries has entered into an agreement with Velocity Investments for due diligence services related to the Fat Panda acquisition, valued at CAD 700,000 and settled with 39,000 shares of common stock.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.