CEA Industries Inc., a Colorado-based nicotine company listed on the Nasdaq Capital Market under the ticker “VAPE,” has announced plans to launch the pricing of an oversubscribed and upsized above-the-market PIPE financing, which is expected to generate $500 million in gross proceeds, comprising $400 million in cash and $100 million in crypto.
The platform will be partnering with 10X Capital and YZi Labs, the investment arm of Binance co-founder Changpeng Zhao.
With this PIPE financing, CEA Industries plans to open the way for institutional and retail investors to participate in the BNB Chain ecosystem, thus becoming the largest publicly traded BNB Treasury Company in the United States.
Earlier this month,10X Capital announced its plans to launch a new BNB treasury company in the US, targeting both institutional and retail investors.
The platform would be partnering with YZi Labs to take its treasury firm public on a major US stock exchange, focusing exclusively on accumulating and managing Binance Coin as a treasury asset.
BNB Treasury Vehicle Gains Momentum
The PIPE financing round attracted more than 140 subscribers worldwide, including prominent institutional and crypto-native investors such as Pantera Capital, Arche Capital, Borderless, Arrington Capital, Blockchain.com, and GSR.
The updated treasury strategy will take effect immediately after the closing, slated for July 31, 2025.
The company will be led by a team of experienced professionals, including David Namdar as Incoming CEO, who is also Co-Founder of Galaxy Digital and Senior Partner at 10X Capital, Russell Read as Incoming CIO with experience at 10X Capital, CalPERS, and Deutsche Bank Asset Management, and Saad Naja, a former director at Kraken and executive board member at Exinity.
Incoming CEO David Namdar stated:
“BNB Chain is one of the most widely used blockchain ecosystems globally, yet institutional access has been limited until now. By creating a U.S.-listed treasury vehicle, we are opening the door for traditional investors to participate in a transparent way. This is a significant step in bridging digital assets and mainstream capital markets.”
BNB Surges to New Heights
Binance Coin (BNB), the world’s fourth-largest blockchain by market cap, has recorded significant gains in recent times. Last week, BNB reached a new all-time high, surpassing $805, fueled by significant institutional accumulation.
BNB also recently recorded another ATH, after selling above $827. At the time of writing, the coin is currently selling for $829, indicating an uptrend.
