TLDR
- CEA rebrands to BNC, pivots to BNB treasury with $500M raise and new CEO.
- CEA to become BNC on Nasdaq, shifts to BNB reserves after $500M injection.
- $500M boost powers CEA’s pivot to BNB, rebranding as BNC on August 6.
- CEA shares surge as firm rebrands to BNC, embraces BNB-focused strategy.
- CEA turns to BNB and blockchain, changes ticker to BNC after big funding.
CEA Industries Inc. saw its shares rise 3.13% to $17.98 as of 1:07 PM EDT. Despite earlier highs approaching $19.00, the price stabilized closer to $18.00 in the early afternoon.
The move follows the closing of a $500 million private placement and the company’s transition to a BNB-focused treasury strategy. CEA will also change its Nasdaq ticker to “BNC” starting August 6, 2025, marking a shift in its corporate direction.
$500 Million Private Placement Fuels Strategic Shift
CEA Industries Inc. completed a $500 million private placement to fund its new digital asset treasury strategy. YZi Labs led the offering, alongside over 140 participants from institutional and crypto-native entities. The company structured the raise as a common equity PIPE with an additional $750 million possible through warrant exercises.
CEA Industries closes $500 million private placement to advance its BNB treasury strategy
— unfolded. (@cryptounfolded) August 5, 2025
The proceeds will support the purchase of BNB tokens, positioning BNB as the company’s primary treasury reserve asset. 10X Capital will manage the treasury with backing from YZi Labs. This financial pivot signals a broader integration with blockchain infrastructure, centered around the BNB Chain ecosystem.
CEA aims to merge blockchain-based reserves with its core nicotine vape operations. It plans to operate the treasury under a new brand, the BNB Network Company. This rebrand aligns with the company’s broader asset strategy and long-term financial roadmap.
Ticker Change to “BNC” Effective August 6
Effective August 6, 2025, CEA will change its ticker from “VAPE” to “BNC” on the Nasdaq. Its publicly traded warrants will also shift to “BNCWW” on the same day. The change reflects the company’s rebranding toward its blockchain-focused identity.
There will be no change to the common shares or warrants held by current shareholders. No additional corporate actions will accompany the ticker update. CEA confirmed no further shareholder action is required for the change to take effect.
The symbol transition complements the treasury shift by offering a clearer market identity. This rebranding effort aims to reflect the company’s evolving business model. It marks a decisive step toward establishing itself within the digital asset space.
Strategic Leadership Changes Support the New Vision
CEA appointed David Namdar as CEO, replacing Tony McDonald, who will now serve as President and board member. Russell Read joins as CIO, bringing experience from CalPERS and Deutsche Bank Asset Management. Both new executives come from 10X Capital, which will manage the company’s BNB reserves.
Hans Thomas and Alexander Monje of 10X Capital also join the board of directors. These leadership changes aim to strengthen oversight of the company’s asset strategy. The additions underscore a move toward institutional-level asset management.
CEA continues its core business operations while aligning with the growing blockchain economy. The company’s market cap stands at approximately $15 million. Shares have risen 72% in the past month following the treasury announcement.
