Summary
- Nasdaq-listed CEA Industries said it will raise a total of $1.25 billion to further stockpile Binance Coin (BNB).
- CEA said it plans to further purchase BNB by securing funds through private investment (PIPE) and warrants.
- CEA emphasized the long-term attractiveness of BNB and said it plans to increase the amount of BNB held per share for shareholders.
Nasdaq-listed CEA Industries said it will raise funds to further stockpile Binance Coin (BNB).
On the 22nd (local time), according to GlobeNewswire, CEA said in a press release, "We plan to raise an additional $500 million through a private investment (PIPE) and $750 million through warrants to acquire additional BNB," and added, "BNB is the most attractive asset in today's crypto asset market."
It went on, "We will significantly increase the amount of BNB held per share for shareholders in the long term," adding, "Discussions with Changpeng Zhao, the founder of Binance, are also ongoing."
Previously, CEA Industries had announced it would reserve 1% of BNB's total supply by the end of this year.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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