CEA Industries completes a US$500 million private placement and will change its name to BNB Network Company, led by YZi Labs."
According to online reports, CEA Industries (NASDAQ: VAPE) today announced that it has completed US$500 million in private equity financing and will change its name to "BNB Network Company" and its stock code will be changed to "BNC" on August 6. The company plans to use the proceeds to purchase BNB as its main reserve asset. The private placement was led by YZi Labs and attracted more than 140 institutions including Pantera Capital and Blockchain.com. At the same time, the company appointed former Galaxy Digital co-founder David Namdar as CEO and former California Civil Servants Pension Fund (CalPERS) Chief Information Officer Russell Read as Chief Information Officer.
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