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CEA Industries, which completed a $500 million private sale, will be renamed BNB Network Company.
PANews August 5 news, according to GlobeNewswire, CEA Industries has completed a $500 million private sale led by YZi Labs, planning to purchase BNB as the main reserve asset and will operate under the name “BNB Network Company.” The company’s stock code will change from VAPE to BNC on August 6, and if all warrants are exercised, additional financing could reach up to $750 million. David Namdar, co-founder of Galaxy Digital, will serve as CEO, and 10X Capital will be responsible for BNB treasury management.