CEA Industries expands BNB holdings to 350,000 tokens

NEW YORK - CEA Industries Inc. (NASDAQ:BNC) announced Tuesday it has increased its Binance Coin (BNB) treasury holdings to over 350,000 tokens, up from its initial purchase of 200,000 BNB. The company’s stock has shown remarkable momentum, with a 236% return over the past year and nearly doubling in value over the last six months, according to InvestingPro data.

The company, which describes itself as having the largest corporate BNB treasury, has added approximately 150,000 tokens to its holdings as part of its ongoing treasury strategy. With a current ratio of 4.17, the company maintains strong liquidity to support its operations, while its revenue has grown by 24% in the last twelve months.

"Reaching over 350,000 BNB in our treasury is a powerful statement about where we see the future heading," said David Namdar, CEO of BNC, according to the press release.

The expansion follows the company’s previously announced BNB accumulation strategy. CEA Industries stated it aims to provide exposure to the BNB ecosystem, which it characterizes as "one of the most resilient and widely adopted ecosystems in blockchain."

The company indicated plans to further scale its holdings and introduce new structures intended to benefit shareholders. CEA Industries describes itself as a growth-oriented company focused on building category-leading businesses in consumer markets, including managing its BNB treasury.

The announcement comes as part of the company’s stated mission to build what it calls "the most trusted and strategically positioned digital asset treasury."

BNB is the native cryptocurrency of the BNB Chain, formerly known as Binance Smart Chain. CEA Industries trades on the Nasdaq under the ticker BNC.

In other recent news, CEA Industries Inc. announced a significant move with a $50 million at-the-market equity offering agreement through Cantor Fitzgerald & Co. This agreement allows CEA Industries to issue and sell shares of its common stock, with Cantor Fitzgerald acting as the sales agent. Additionally, CEA Industries has initiated a private placement offering, involving 41,754,478 shares of common stock priced at $10.10 per share, alongside pre-funded and stapled warrants for further stock purchases.

Meanwhile, BNB Network Company, a treasury management division of CEA Industries, has been actively increasing its holdings in BNB tokens. The company recently acquired 200,000 BNB tokens, followed by an additional 88,888 tokens, and later expanded its treasury to 325,000 tokens. This strategic move is part of BNB Network’s goal to become the largest corporate holder of BNB tokens globally. BNB Network aims to own 1% of BNB’s total supply by the end of 2025, reflecting its focus on BNB as a primary reserve asset.

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