CEA Industries closes $500 million private placement for BNB strategy

LOUISVILLE, CO - CEA Industries Inc. (NASDAQ:VAPE), currently valued at $128.8 billion, announced Tuesday the closing of a $500 million private placement offering led by YZi Labs to support its new BNB-focused treasury strategy.

The company also revealed it will begin trading under the new ticker symbol NASDAQ:BNC on Wednesday, August 6, 2025, with its publicly-traded warrants trading as NASDAQ:BNCWW. The ticker change reflects the company’s strategic shift toward the BNB Chain ecosystem. The stock has shown remarkable performance, gaining 78.63% year-to-date and trading near its 52-week high of $8.98. According to InvestingPro analysis, the stock appears slightly overvalued at current levels.

The private placement consists of common equity delivering $500 million in gross proceeds, with potential for an additional $750 million if all included warrants are exercised. CEA plans to use the net proceeds to purchase BNB as its primary treasury reserve asset while continuing its core business operations. The company maintains a healthy financial profile with a P/E ratio of 8.77 and offers a dividend yield of 2.28%. InvestingPro subscribers can access 8 additional key metrics and insights about the company’s valuation.

"Our new BNC ticker reflects a strategic realignment with the BNB Chain ecosystem and a clear focus on treasury growth," said David Namdar, incoming CEO of CEA Industries. The company’s overall financial health score is rated as GREAT by InvestingPro, with particularly strong momentum metrics.

The offering attracted over 140 subscribers, including institutional and crypto-native investors such as Pantera Capital, Blockchain.com, and Arrington Capital. 10X Capital will serve as the asset manager for the BNB treasury strategy. The company’s strong institutional backing is reflected in its robust financial metrics, with revenue of $59.5 billion in the last twelve months.

As part of the transition, David Namdar joins as CEO and Russell Read as CIO. Former CEO Tony McDonald will become President and remain on the board. Hans Thomas and Alexander Monje from 10X Capital will join the board of directors.

Cantor Fitzgerald & Co. served as lead financial advisor and sole placement agent for the transaction.

The securities were offered in a private placement under Section 4(a)(2) of the Securities Act and/or Regulation D, with the company agreeing to file a registration statement with the SEC for the resale of shares.

According to the press release statement, CEA Industries currently positions itself as the largest U.S. publicly traded BNB treasury company.

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