CEA Industries Closes $500 Million Private Placement to Advance Its BNB Treasury Strategy; Common Stock Ticker to Become 鈥淏NC鈥�
CEA Industries (NASDAQ:VAPE) has announced the successful closing of a $500 million private placement to implement its BNB-focused treasury strategy. The company will change its ticker to NASDAQ:BNC on August 6, 2025, reflecting its new identity as "BNB Network Company."
The offering includes the potential for an additional $750 million from warrant exercises. The placement attracted over 140 subscribers, including major institutional and crypto-native investors such as YZi Labs, Pantera Capital, and G-20 Group. The company will use the proceeds to purchase BNB as its primary treasury reserve asset.
Significant leadership changes include David Namdar joining as CEO and Russell Read as CIO, while former CEO Tony McDonald transitions to President. Cantor Fitzgerald & Co. served as lead financial advisor and sole placement agent.
CEA Industries (NASDAQ:VAPE) ha annunciato la conclusione con successo di un collocamento privato da 500 milioni di dollari per attuare la sua strategia di tesoreria focalizzata su BNB. La societ脿 cambier脿 il suo ticker in NASDAQ:BNC il 6 agosto 2025, riflettendo la sua nuova identit脿 come "BNB Network Company".
L'offerta prevede la possibilit脿 di un ulteriore 750 milioni di dollari derivanti dall'esercizio di warrant. Il collocamento ha attirato oltre 140 sottoscrittori, tra cui importanti investitori istituzionali e crypto-native come YZi Labs, Pantera Capital e G-20 Group. La societ脿 utilizzer脿 i proventi per acquistare BNB come principale riserva di tesoreria.
Tra i cambiamenti significativi nella leadership vi sono l'ingresso di David Namdar come CEO e di Russell Read come CIO, mentre l'ex CEO Tony McDonald passer脿 alla carica di Presidente. Cantor Fitzgerald & Co. ha agito come consulente finanziario principale e unico agente del collocamento.
CEA Industries (NASDAQ:VAPE) ha anunciado el exitoso cierre de una colocaci贸n privada de 500 millones de d贸lares para implementar su estrategia de tesorer铆a centrada en BNB. La compa帽铆a cambiar谩 su ticker a NASDAQ:BNC el 6 de agosto de 2025, reflejando su nueva identidad como "BNB Network Company".
La oferta incluye la posibilidad de obtener 750 millones de d贸lares adicionales mediante el ejercicio de warrants. La colocaci贸n atrajo a m谩s de 140 suscriptores, incluidos importantes inversores institucionales y nativos del cripto como YZi Labs, Pantera Capital y G-20 Group. La empresa utilizar谩 los fondos para comprar BNB como su principal activo de reserva en tesorer铆a.
Los cambios significativos en el liderazgo incluyen la incorporaci贸n de David Namdar como CEO y de Russell Read como CIO, mientras que el ex CEO Tony McDonald pasa a ser Presidente. Cantor Fitzgerald & Co. actu贸 como asesor financiero principal y agente 煤nico de colocaci贸n.
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CEA Industries (NASDAQ:VAPE) a annonc茅 la cl么ture r茅ussie d'un placement priv茅 de 500 millions de dollars pour mettre en 艙uvre sa strat茅gie de tr茅sorerie ax茅e sur le BNB. La soci茅t茅 changera son ticker pour NASDAQ:BNC le 6 ao没t 2025, refl茅tant sa nouvelle identit茅 en tant que "BNB Network Company".
L'offre inclut la possibilit茅 d'obtenir un montant suppl茅mentaire de 750 millions de dollars gr芒ce 脿 l'exercice de bons de souscription. Le placement a attir茅 plus de 140 souscripteurs, dont des investisseurs institutionnels majeurs et des investisseurs natifs de la cryptomonnaie tels que YZi Labs, Pantera Capital et G-20 Group. La soci茅t茅 utilisera les fonds pour acheter du BNB comme principal actif de r茅serve de tr茅sorerie.
Des changements importants dans la direction incluent l'arriv茅e de David Namdar en tant que CEO et de Russell Read en tant que CIO, tandis que l'ancien CEO Tony McDonald devient Pr茅sident. Cantor Fitzgerald & Co. a agi en tant que conseiller financier principal et agent unique du placement.
CEA Industries (NASDAQ:VAPE) hat den erfolgreichen Abschluss einer 500 Millionen US-Dollar Privatplatzierung bekannt gegeben, um seine auf BNB ausgerichtete Treasury-Strategie umzusetzen. Das Unternehmen wird am 6. August 2025 sein Tickersymbol auf NASDAQ:BNC 盲ndern, um seine neue Identit盲t als "BNB Network Company" widerzuspiegeln.
Das Angebot beinhaltet die M枚glichkeit von zus盲tzlichen 750 Millionen US-Dollar durch die Aus眉bung von Warrants. Die Platzierung zog 眉ber 140 Zeichner an, darunter bedeutende institutionelle und Krypto-native Investoren wie YZi Labs, Pantera Capital und G-20 Group. Das Unternehmen wird die Erl枚se verwenden, um BNB als prim盲ren Treasury-Reservewert zu erwerben.
Bedeutende F眉hrungs盲nderungen umfassen die Ernennung von David Namdar zum CEO und Russell Read zum CIO, w盲hrend der ehemalige CEO Tony McDonald zum Pr盲sidenten wechselt. Cantor Fitzgerald & Co. fungierte als Hauptfinanzberater und alleiniger Platzierungsagent.
- Secured substantial funding of $500M with potential for additional $750M from warrant exercises
- Strong institutional backing with over 140 prominent investors participating
- Strategic transformation to focus on BNB treasury strategy with experienced new leadership
- Maintains core business operations while adopting new treasury strategy
- Significant dilution risk from the private placement and potential warrant exercises
- Exposure to crypto market volatility through BNB treasury strategy
- Major business model pivot that may introduce new operational risks
Insights
CEA Industries pivots to crypto with massive $500M raise, transforms into BNB treasury vehicle with new leadership from crypto veterans.
CEA Industries has executed a dramatic strategic pivot with its
The capital raise is substantial, with
The company is undergoing a complete leadership overhaul to execute this strategy, bringing in executives with deep cryptocurrency experience. David Namdar, co-founder of Galaxy Digital, will become CEO. The company is also changing its ticker from VAPE to BNC to reflect this new direction.
This move represents a dramatic business model shift where CEA will purchase BNB as its primary treasury reserve asset while continuing its existing operations. The company is effectively transforming into a publicly-traded proxy for BNB exposure, similar to how MicroStrategy has become a Bitcoin treasury vehicle. For investors seeking regulated exposure to BNB, this could provide an alternative access point through traditional markets rather than directly through crypto exchanges.
The structure as a PIPE (Private Investment in Public Equity) with warrants is typical for significant capital raises, but investors should note the substantial potential dilution that would occur if all warrants are exercised. This announcement fundamentally changes the company's risk profile, tying its fortunes directly to BNB's performance.
CEA transforms into first Nasdaq-listed BNB proxy investment vehicle, securing $500M to purchase BNB as its treasury reserve asset.
This announcement represents a landmark development in the cryptocurrency market, as CEA Industries is effectively becoming the first Nasdaq-listed company to adopt BNB as its primary treasury reserve asset. The
The company is executing a strategy similar to MicroStrategy's Bitcoin treasury approach, but for BNB - the native token of the BNB Chain ecosystem (formerly known as Binance Smart Chain). BNB currently ranks among the top cryptocurrencies by market capitalization and powers one of the most active blockchain networks with significant transaction volume and developer activity.
This strategic pivot is bolstered by bringing in leadership with substantial cryptocurrency expertise. New CEO David Namdar's background as co-founder of Galaxy Digital (one of the earliest institutional crypto firms) and the involvement of 10X Capital as asset manager indicates this is a sophisticated operation rather than an opportunistic move.
The participation of established crypto-native investors like Pantera Capital, Arrington Capital, and Blockchain.com provides additional validation for this strategy. These firms typically conduct thorough due diligence before deploying capital at this scale.
For the broader cryptocurrency market, this represents significant institutional validation for BNB specifically. While Bitcoin has seen treasury adoption from public companies, this appears to be the first major treasury strategy centered around BNB, potentially creating a precedent for other tokens to receive similar institutional backing through public market vehicles.
Proceeds from the private placement enable the Company to acquire and adopt BNB as its primary treasury reserve asset聽
Louisville, CO, Aug. 05, 2025 (GLOBE NEWSWIRE) -- (Currently NASDAQ:VAPE, changing to NASDAQ:BNC on Wednesday August 6, 2025) CEA Industries Inc. (鈥淐EA鈥� or the 鈥淐ompany鈥�) today announced the closing of its
The Company also announced today that, beginning on Wednesday, August 6, 2025, shares of the Company鈥檚 common stock will trade on Nasdaq under the new ticker symbol 鈥淏NC鈥�, and the Company鈥檚 outstanding publicly-traded warrants will trade on Nasdaq under the new ticker symbol 鈥淏NCWW鈥�. The Company believes this ticker symbol change better reflects the Company鈥檚 new BNB treasury strategy, which it intends to operate under the name "BNB Network Company.鈥�
鈥淥ur new BNC ticker reflects a strategic realignment with the BNB Chain ecosystem and a clear focus on treasury growth,鈥� said David Namdar, incoming CEO of CEA Industries Inc. 鈥淭his is the first step in building a best-in-class, institutional-grade vehicle that gives investors transparent and secure access to one of the most active blockchain networks in the world.鈥�
This announcement marks a critical milestone in the Company鈥檚 BNB treasury strategy as it plans to use the net proceeds to purchase BNB, thus enabling the Company to adopt BNB as its primary treasury reserve asset, while continuing its core business operations.
will serve as the asset manager of the BNB treasury strategy, .
Over 140 subscribers, led by institutional and crypto-native investors including , , , , , , , , , , , , , , , , Propel Horizon, Winone, Nano Labs, and several other prominent investors including 鈥檚 family office and the founders of , participated in the offering.
(Co-Founder, and Senior Partner, ) joins the Company as CEO, and (CIO, 10X Capital and former CIO of CalPERS, Deputy CIO of Deutsche Bank Asset Management) joins as CIO. Former CEO, Tony McDonald, will become President and remain on the board of directors.
Hans Thomas, Founding Partner and CEO of 10X Capital, and Alexander Monje, Partner and CLO of 10X Capital, will join as members of the board of directors.
Advisors
Cantor Fitzgerald & Co. served as lead financial advisor to 10X Capital and sole placement agent to the Company.
Cohen & Company Capital Markets, a division of Cohen & Company Securities, LLC, and Clear Street LLC served as financial advisors to 10X Capital.
Winston & Strawn LLP served as counsel to 10X Capital.
DLA Piper LLP (US) served as counsel to Cantor Fitzgerald & Co.
The offer and sale of the foregoing securities were made in a private placement in reliance on an exemption from the registration requirement of the Securities Act of 1933, as amended (the 鈥淪ecurities Act鈥�), pursuant to Section 4(a)(2) of the Securities Act and/or Regulation D promulgated thereunder, and applicable state securities laws. Accordingly, the securities offered in the private placement may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirement of the Securities Act and such applicable state securities laws. Concurrently with the execution of the securities purchase agreements, the Company and the investors entered into a registration rights agreement pursuant to which the Company has agreed to file a registration statement with the Securities and Exchange Commission (the 鈥淪EC鈥�) registering the resale of the shares of common stock to be issued or issuable in connection with the offering.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About CEA Industries Inc.
CEA Industries Inc. (NASDAQ:BNC) is a growth-oriented company that has focused on building category-leading businesses in consumer markets, including the recently announced BNB-focused Digital Asset Treasury. CEA Industries Inc. offers BNB access via (NASDAQ:BNC) (NASDAQ:BNCWW for warrants) with institutional-grade treasury strategy, execution and SEC-compliant reporting. Following the closing of the PIPE, CEA intends to deploy a BNB focused Treasury strategy, offering a gateway for institutional and retail investors to participate in the BNB Chain ecosystem, Binance Layer-1 blockchain ecosystem coin.
CEA Industries Inc. will continue to emphasize transparency with the SEC and all investors regarding re-investment, holdings, and strong engagement with the BNB ecosystem and community. Additional updates on BNB acquisitions, treasury growth and governance measures are expected in the coming weeks. Currently, CEA Industries Inc. remains the world鈥檚 largest U.S. publicly traded $BNB treasury company.
About 10X Capital
10X Capital is a next-generation investment firm focused on digital transformation, including digital assets and digital infrastructure. Founded by pioneering digital currency and fintech entrepreneur Hans Thomas (founding team, InternetCash), 10X Capital brings institutional capital to exceptional opportunities worldwide. With capabilities in asset management, treasury management, and capital markets, the firm takes a holistic, market-leading approach to building and managing Digital Asset Treasury companies (DATs) around the world, in partnership with top foundations & entrepreneurs.
Forward Looking Statements
This press release contains statements that constitute 鈥渇orward-looking statements.鈥� The statements in this press release that are not purely historical are forward-looking statements which involve risks and uncertainties. This document specifically contains forward-looking statements regarding the potential benefits of the uses of proceeds of the Company鈥檚 recent offering and future business plans. In evaluating these forward-looking statements, you should consider various factors, including CEA鈥檚 ability to keep pace with new technology and changing market needs; CEA鈥檚 ability to finance its current business and proposed future business; the competitive environment of CEA鈥檚 business; and the future value of BNB. Actual future performance outcomes and results may differ materially from those expressed in forward-looking statements. Forward-looking statements are subject to numerous conditions, many of which are beyond CEA鈥檚 control, including those set forth in the Risk Factors section of CEA鈥檚 Form 10-K filed with the SEC on March 27, 2025, as well as all other SEC filings, as amended or updated from time to time. Copies of CEA鈥檚 filings with the SEC are available on the SEC鈥檚 website at CEA undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Media Contacts:
| CEA Industries | Sarah May | [email protected] |
FAQ
What is the size of CEA Industries' (VAPE) private placement and what will it be used for?
When will CEA Industries change its stock ticker to BNC?
Who are the new leaders joining CEA Industries after the private placement?
Which major investors participated in CEA Industries' private placement?
Who will manage CEA Industries' BNB treasury strategy?
