CEA Industries completes $500 million private placement and will rename as BNB Network Company, led by YZi Labs

According to Golden Finance, CEA Industries (NASDAQ: VAPE) announced today the completion of a $500 million private placement and will be renamed as "BNB Network Company", with the stock code changing to "BNC" on August 6th. The company plans to use the proceeds to purchase BNB as its main reserve asset. This private placement is led by YZi Labs and has attracted participation from over 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 Chief Information Officer of CalPERS, Russell Read, as Chief Information Officer.