CEA Industries Inc. (NASDAQ: VAPE) experienced an extraordinary rally on Monday, with shares skyrocketing 587.94% to $61.06 following the announcement of a landmark equity development.
VAPE confirmed the pricing of an oversubscribed and upsized above‑the‑market PIPE financing in partnership with 10X Capital and YZi Labs. This move positions CEA Industries to become the largest publicly traded BNB Treasury Company in the United States.
Expanding Institutional Access to BNB
The PIPE marks a significant step in institutionalizing access to $BNB—one of the world’s top four digital asset tokens with a market capitalization exceeding $100 billion. CEA Industries will begin deploying the raised capital to acquire BNB, providing both institutional and retail investors an entry point into the BNB Chain ecosystem.
This blockchain platform supports millions of global users and decentralized applications, making it one of the most actively utilized Layer‑1 networks.
Leadership Strengthened by Industry Veterans
Upon closing, CEA’s executive team will integrate seasoned leaders including incoming CEO David Namdar, Co‑Founder of Galaxy Digital; CIO Russell Read, former CIO of CalPERS and Deutsche Bank Asset Management; and Saad Naja, former director at Kraken. Their combined expertise is expected to guide the treasury’s growth strategy and enhance institutional credibility.
Strong Investor Participation Signals Market Confidence
The financing attracted more than 140 subscribers, led by major institutional and crypto‑native investors such as YZi Labs, Pantera Capital, Arche Capital, Blockchain.com, and Arrington Capital. Notable individual investors include Olaf Carlson Wee and Rajeev Misra’s family office.
CEA intends to grow its initial BNB position significantly over the next 12–24 months through a structured capital markets program, while exploring staking and lending opportunities within the Binance ecosystem under a prudent risk framework. With its Nasdaq‑listed vehicle, CEA Industries is bridging the gap between digital assets and mainstream capital markets.
Unlike Bitcoin‑centric treasury firms, this initiative offers direct exposure to the BNB Chain—a rapidly growing network with robust DeFi, NFT, and Web3 activity. The PIPE is expected to close by July 31, 2025, after which the updated treasury strategy will take effect.
