CEA Industries announces private placement of common stock and warrants

Published 01/08/2025, 22:20
CEA Industries announces private placement of common stock and warrants

CEA Industries Inc. (NASDAQ:VAPE), which has seen its stock surge over 200% in the past week and maintains a healthy current ratio of 4.17 according to InvestingPro, reported it has commenced a private placement offering, according to a statement filed with the Securities and Exchange Commission. The company, currently valued at $22.73 million and showing strong revenue growth of 24% year-over-year, entered into securities purchase agreements with certain accredited investors to sell and issue a total of 41,754,478 shares of common stock at a price of $10.10 per share.

In addition to the common stock, the company agreed to issue pre-funded warrants to purchase up to 7,750,510 shares of common stock at an offering price of $10.09999 per warrant. The offering also includes stapled warrants to purchase up to 49,504,988 shares of common stock at an exercise price of $15.15 per warrant.

Cantor Fitzgerald & Co. acted as the sole placement agent for the offering.

The material terms of the pre-funded warrants, stapled warrants, securities purchase agreements, and the registration rights agreement are described in the company’s prior Form 8-K filed with the SEC on July 28, 2025. Forms of these agreements are attached as exhibits to that filing.

The company’s filing states that neither the current report nor its exhibits constitute an offer to sell or a solicitation of an offer to buy shares of common stock or other securities.

This information is based on a press release statement and the company’s SEC filing.

In other recent news, CEA Industries Inc. announced a change to its fiscal year end, shifting it from December 31 to April 30. This adjustment aligns with the operational periods of recently acquired companies, including Fat Panda Ltd. Additionally, CEA Industries will change its Nasdaq ticker symbol from "CEAD" to "VAPE" on June 13, 2025. This change follows the acquisition of Fat Panda, reflecting a strategic shift toward the vaping industry. Furthermore, CEA Industries entered into an agreement with Velocity Investments Incorporated. Velocity provided due diligence and acquisition advice for the Fat Panda acquisition, valued at CAD 700,000. The payment was settled by issuing 39,000 shares of CEA Industries’ common stock. These developments underscore CEA Industries’ strategic moves and recent acquisitions.

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