CEA Industries raises $500M PIPE to become publicly listed BNB treasury company

CEA Industries Inc.

Gross proceeds of ~$500M from common equity PIPE; up to $1.25B including warrant exercises.
Proceeds to acquire BNB, establishing the largest publicly traded BNB treasury strategy.
Incoming CEO David Namdar (Galaxy Digital co-founder) and CIO Russell Read (ex-CalPERS CIO).
Over 140 institutional and crypto investors participated, including Pantera Capital and YZi Labs.
Transaction expected to close on or about July 31, 2025; common stock trades as VAPE.

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