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CEA Industries and 10X Capital, with the support of YZiLabs, have announced a $500 million private funding round to establish a BNB Strategic Reserve.
BlockBeats News, July 28th, according to official sources, CEA Industries (NASDAQ: VAPE) and 10X Capital announced a $5 billion private placement with the support of YZi Labs to establish the world's largest publicly traded BNB financial company. The financing consists of two parts:
· Common Stock PIPE Financing: Totaling $5 billion (including $4 billion in cash + $1 billion worth of cryptocurrency)
· Warrant Exercise: If fully exercised, an additional $7.5 billion in cash financing is expected to be raised
The official statement indicated that this PIPE received oversubscriptions from over 140 institutional investors worldwide. The key participating institutions include: YZi Labs, Pantera Capital, Arche Capital, GSR, Borderless, Arrington Capital, Blockchain.com, Hypersphere Capital, Kenetic, dao5, Protocol Ventures, Reciprocal Ventures, G-20 Group, Three Point Capital, Propel Horizon, Exinity, Winone, Nano Labs, and others.
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