PANews reported on August 5th that, according to GlobeNewswire , CEA Industries completed a $500 million private placement led by YZi Labs. The company plans to purchase BNB as its primary reserve asset and will operate as " BNB Network Company. " The company's stock ticker will change from VAPE to BNC on August 6th . If all warrants are exercised, the company can raise up to $750 million in additional funding . Galaxy Digital co-founder David Namdar has been appointed CEO , and 10X Capital will manage the BNB treasury.