VAPE Stock Surges 650% on $500M BNB-Focused PIPE Offering

CEA Industries (VAPE), a Nasdaq-listed company in the nicotine vape sector, experienced a staggering 650% stock surge in a single trading session following the announcement of a $500 million private investment in public equity (PIPE) offering led by 10X Capital and YZi Labs. The deal, which includes $400 million in cash and $100 million in BNB cryptocurrency, aims to establish the firm as the largest publicly traded BNB corporate treasury in the U.S. The offering is structured to potentially raise up to $1.25 billion in gross proceeds, including proceeds from exercisable warrants. The surge in VAPE’s stock price, which climbed to 65% per share, reflects investor enthusiasm for the company’s strategic pivot into blockchain assets [1].

The BNB treasury strategy, managed by 10X Capital and supported by YZi Labs, will be overseen by a leadership team featuring David Namdar (co-founder of Galaxy Digital), Russell Read (former CIO of CalPERS and 10X Capital), and Saad Naja (former Kraken director). Russell Read emphasized in the release that BNB’s utility across decentralized finance (DeFi), payments, and enterprise applications makes it an attractive institutional asset, stating the initiative aligns with long-term value creation rather than speculative trading [1].

YZi Labs, the investment vehicle of former Binance CEO Changpeng Zhao, has positioned itself as a key player in the deal. The firm previously announced its support for 10X Capital’s efforts to launch a BNB treasury company, signaling a strategic alignment with institutional-grade crypto exposure [1]. Over 140 investors, including Pantera Capital, Arche Capital, and GSR, participated in the offering, reflecting growing institutional interest in blockchain-based assets.

CEA Industries, with a pre-offering market cap of approximately $56.3 million, plans to scale its BNB holdings significantly over the next 12–24 months. The company will explore staking, lending, and other revenue-generating opportunities within the Binance ecosystem. BNB, currently the fourth-largest non-stablecoin cryptocurrency by market capitalization, rose 5% to $838.07 following the announcement [1].

The surge in corporate BNB treasuries follows a broader trend of institutional adoption of crypto assets, building on successes seen in Bitcoin and Ethereum treasuries. CEA Industries’ pivot to BNB marks a departure from its traditional focus on regulated consumer markets, positioning it as a bridge between traditional finance and blockchain innovation.

Source: [1] [title] [https://www.theblock.co/post/364421/nasdaq-listed-vape-stock-surges-600-after-10x-capital-and-yzi-labs-lead-500-million-offering-to-establish-bnb-treasury?utm_medium=rss&utm_source=markets.xml]