TechFlow, Oct 22 — According to Business Wire, Applied DNA Sciences (Nasdaq: BNBX), a biotechnology company listed on the U.S. stock market, announced the successful completion of its previously disclosed private investment in public equity (PIPE) financing, raising approximately $27 million, with potential additional proceeds of up to $31 million upon future warrant exercises.
The company has officially launched its revenue-focused digital asset treasury strategy. The financing proceeds include $15.3 million in cash and stablecoins, along with OBNB trust units valued at $11.71 million. The company received a total of 435,638 trust units, representing underlying ownership of 10,647 BNB tokens. In addition, Applied DNA Sciences purchased an extra 4,908 BNB tokens.
Chief Investment Officer Patrick Horsman stated that the company views BNB as the next institutional-grade blockchain. The company plans to use the net proceeds to continue implementing its BNB treasury strategy, support working capital needs, and cover transaction-related expenses.
