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yesterday

CEA Industries Nears Close of Oversubscribed $500 Million BNB Treasury Offering

Over 140 institutional, crypto-native subscribers have committed to the private placement that closes July 31, when CEA Industries will begin acquiring Binance Coin

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BNB’s $1K bid isn’t just hype - VAPE just backed it with $1.25B
CEA Industries eyes BNB treasury supremacy with $500m backing

Overview

  • The $500 million PIPE co-led by 10X Capital and YZi Labs has attracted more than 140 institutional, crypto-native investors, including Pantera Capital, GSR and Blockchain.com.
  • The financing comprises $400 million in cash and $100 million in cryptocurrency, with warrants that could expand total proceeds to $1.25 billion for BNB acquisitions.
  • Following the closing expected by July 31, CEA Industries will deploy funds to build the world’s largest publicly-listed BNB treasury.
  • Incoming CEO David Namdar and CIO Russell Read will oversee the strategy to offer institutional and retail exposure to the BNB Chain ecosystem.
  • The company plans to seek yield through staking, lending and node participation on BNB Chain over the next 12 to 24 months while maintaining a conservative risk profile.