CEA Industries Inc (BNC), known for its BNB treasury creation initiative, announced the filing of a registration statement for a $500 million PIPE financing and up to $750 million in warrants.
The company could theoretically purchase $1.25 billion worth of BNB.
In a letter to investors, the company’s CEO, David Namdar, stated that this step is part of BNC’s BNB-focused treasury strategy. Namdar stated, “Similar registration processes can lead to market volatility. However, the foundation we have built at BNC is strong, and we are confident about the path ahead.”
Namdar, referring to MicroStrategy founder Michael Saylor’s Bitcoin investment strategy, said, “Saylor’s company has accumulated over $70 billion in Bitcoin in five years, delivering tremendous value to its shareholders. We are just at the beginning of a similar journey with BNB.”
Namdar noted that BNB has been one of the best-performing major digital assets this year, rising 35.6% since the close of trading on August 5th and 47.5% year-to-date. Namdar noted that the BNB ecosystem is supported by centralized exchanges, decentralized exchanges, and rapidly growing Web3 applications. He added, “This momentum is only increasing. We believe that capital inflows into crypto can be generated through public markets, and BNB is a leading vehicle for investors to gain exposure to BNB.”
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/nasdaq-listed-company-takes-first-step-to-purchase-over-1-billion-of-this-altcoin/
