Nasdaq-Listed CEA Industries To Launch BNB Treasury, VAPE Stock Surges 700%

Nasdaq-listed CEA Industries has raised $500 million to float the largest corporate BNB Treasury. The capital raise can reach highs of $1.25 billion with a broad array of investors indicating interest in the PIPE.

CEA Industries To Launch BNB Treasury

According to a press release, CEA Industries is the latest firm to announce plans to transition to a crypto treasury company, angling to bolster its balance sheet with BNB. According to the announcement, the Nasdaq-listed company confirmed an upsized private investment in public equity (PIPE), which involved the company trading a portion of its shares.

The common equity PIPE led by YZi Labs raised $500 million in gross proceeds for CEA Industries. Out of the total sum, $400 million came in as cash, while $100 million was in digital assets. Furthermore, the company can receive an additional $750 million in cash from the exercise of warrants, potentially bringing the total raise to $1.25 billion.

With the deal expected to close on July 31, the company announced that the raise will be used to accumulate BNB on its balance sheet, making it the largest BNB treasury holder.

Earlier today, BNB hit a new ATH of $859 in a meteoric rally driven by rising institutional interest. Meanwhile, TradingView data shows that CEA Industries’ VAPE stock has spiked 717% over the last day, trading at around $72.51.

Right off the bat, Galaxy Digital co-founder David Namdar will serve as company CEO, while Russell Read will take on the role of CIO. 10X Capital and YZi Labs will be asset managers of the CEA Industries’ BNB treasury strategy, with 140 institutions participating in the PIPE.

“BNB Chain is one of the most widely used blockchain ecosystems globally, yet institutional access has been limited until now,” said incoming CEO David Namdar. “By creating a US-listed treasury vehicle, we are opening the door for  traditional investors to participate in a transparent way.”

Meanwhile, CEA Industries will face stiff competition in its quest to set up the largest BNB treasury as the local ecosystem heats up. In mid-July, Nasdaq-listed Windtree launched a BNB Treasury with a $200 million investment to join Nano Labs in the scramble to accumulate the cryptocurrency.

Why This Move Matters

In an X post, YZi Labs, which was formerly Binance Labs, highlighted why this move from CEA Industries matters. The VC firm noted that CEA will become the first regulated, U.S.-listed treasury company focused on BNB with their support.

YZi Labs further stated that this BNB treasury will set the blueprint for how ecosystem-native tokens can bridge into Wall Street. Like Michael Saylor’s Strategy did for Bitcoin, the VC firm declared that CEA Industries now shows how BNB can scale via capital markets.

Binance co-founder Changpeng Zhao highlighted the surge in the VAPE stock. He declared that this was the power of BNB and that this also attracts more money to the altcoin.