CEA Industries (NASDAQ: VAPE) today announced the completion of a $500 million private placement and will change its name to "BNB Network Company" and ticker symbol to "BNC" on August 6. The company plans to use the proceeds to purchase BNB as its primary reserve asset.
The private placement, led by YZi Labs, attracted participation from more than 140 institutions, including Pantera Capital and Blockchain.com. At the same time, the company appointed former Galaxy Digital co-founder David Namdar as CEO and former California Public Employees' Retirement Fund (CalPERS) CIO Russell Read as CIO.
CEA Industries completes $500 million private placement and will be renamed BNB Network Company, led by YZi Labs
2025-08-05 14:16:07
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