CEA Industries closes $500M private placement, appoints new CEO, shifts to BNB treasury strategy

CEA Industries Inc.

Gross proceeds of $500M from private placement led by YZi Labs; potential additional $750M from warrant exercise.
Appoints David Namdar as CEO, Hans Thomas & Alexander Monje as directors; former CEO Tony McDonald becomes President.
Enters 20-year asset management agreement with 10X Capital for BNB treasury; ticker changes to BNC/BNCWW on Nasdaq.
Over 140 institutional investors participated including Pantera, Blockchain.com, Arrington Capital.
Company exits cannabis retail; Fat Panda subsidiaries cease cannabis sales.

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