U.S.-listed company Applied DNA Sciences announces holding over $17 million worth of BNB

On October 22, according to BusinessWire, US-listed biotechnology company Applied DNA Sciences (NASDAQ: BNBX) announced the successful completion of its previously disclosed private investment in public equity (PIPE) financing, raising a total of approximately $27 million. In the future, the company may receive up to an additional $31 million through the exercise of warrants. The company has officially launched a yield-focused digital asset treasury strategy. The proceeds from the financing include $15.3 million in cash and stablecoins, as well as OBNB trust units valued at $11.71 million. The company has acquired a total of 435,638 trust units, representing underlying ownership of 10,647 BNB tokens. In addition, Applied DNA Sciences has separately purchased 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.