Applied DNA announces private placement of up to $58M to start BNB treasury

Applied DNA (BNBX) Sciences (APDN) announced up to $58M in commitments for a private investment in public equity, or “PIPE,” offering led by institutional investors to initiate a digital asset treasury strategy based on BNB, the native cryptocurrency of the Binance blockchain ecosystem. Following the closing, the company intends to begin deploying funds to acquire BNB, creating a gateway for institutional and retail investors to participate in the BNB blockchain and Binance ecosystem. The company intends to change its ticker symbol to “BNBX” to reflect its strategic focus on its BNB treasury strategy. The company has secured total commitments of $27M, comprised of cash, stablecoin and units of the OBNB Trust in the PIPE with the potential for up to an additional $31M in gross proceeds in future investment from warrant exercises, for total gross proceeds of up to $58M. The closing of the PIPE is expected to occur on or about October 1, subject to the satisfaction of customary closing conditions. To support its BNB treasury strategy the company entered into a five-year Strategic Digital Assets Services Agreement with Cypress to provide discretionary asset management services. In addition, the company entered into a five-year Strategic Advisor Agreement with Cypress Management, an affiliate of Cypress LLC, to provide strategic and technical guidance on business operations relating to its BNB treasury strategy. “The company plans to implement a differentiated digital asset treasury strategy designed to generate additional yield and accumulation of BNB tokens through the integration of actively managed decentralized finance protocols and Binance ecosystem specific strategies. Unlike passive staking or even traditional validator operating strategies, we believe this more active approach is structured to deliver yields materially in excess of other conventional methods, while maintaining a disciplined focus on risk management. The strategy is further strengthened by active engagement within the BNB and Binance ecosystem, employing a sophisticated yield framework that prioritizes stability, scalability, and transparency. By combining robust oversight with innovative on-chain opportunities, the company believes it is positioning its treasury as a driver of sustainable growth and long-term value creation,” it stated.