CEA Industries Inc. (NASDAQ: BNC) witnessed a sharp surge in pre-market activity after advancing its BNB treasury initiative. As of the latest pre-market check, BNC shares rose 37.82%, trading at $24.49. The rally follows the company’s announcement of a $500,000,000 private placement offering, led by YZi Labs, finalized on August 5, 2025, to fund its BNB-focused treasury plan.
Major Capital Infusion and Strategic Warrants
The private placement includes a common equity PIPE generating $500,000,000 in gross proceeds, alongside the potential for an additional $750,000,000 in cash from warrant exercises, assuming full conversion. These funds will provide significant liquidity for the company’s treasury expansion and operational continuity.
Rebranding and Ticker Transition
CEA Industries has rebranded on Nasdaq, now trading under the ticker symbol “BNC,” with its publicly traded warrants listed as “BNCWW.” The company stated that the ticker change aligns with its new identity as “BNB Network Company,” reinforcing its commitment to the BNB Chain ecosystem.
This strategic move positions BNC as a specialized vehicle designed to give institutional investors transparent and secure exposure to one of the most active blockchain networks globally.
Treasury Management and Leadership Transition
Proceeds from the offering will be deployed to purchase BNB as the company adopts it as the primary treasury reserve asset. 10X Capital will manage the treasury strategy, supported by YZi Labs.
Leadership adjustments accompany the strategic shift: David Namdar, Co-Founder of Galaxy Digital and Senior Partner at 10X Capital, has been appointed CEO; Russell Read, CIO of 10X Capital and former CIO of CalPERS and Deputy CIO at Deutsche Bank Asset Management, will serve as CIO. Outgoing CEO Tony McDonald transitions to President while retaining his board position.
Additionally, Hans Thomas, Founding Partner and CEO of 10X Capital, and Alexander Monje, Partner and CLO of 10X Capital, will join the board of directors. This milestone underscores CEA Industries’ commitment to integrating blockchain-based assets into its financial strategy, marking a significant evolution in its corporate direction.
