Applied DNA Sciences, a US-listed company, announced a private fundraising round of up to $58 million and launched its BNB treasury strategy.

Applied DNA Sciences (NASDAQ: APDN), a US-listed biotechnology company, announced a private equity investment (PIPE) commitment of up to $58 million to launch a BNB-based digital asset inventory strategy. The company has secured $27 million in total commitments, including cash, stablecoins, and OBNB Trust units, with the potential for an additional $31 million in proceeds from future warrant exercises. The financing is expected to close on October 1st. The company plans to change its ticker symbol to "BNBX" to reflect its BNB inventory strategy focus. The funding round was led by institutional and crypto-native investors including Galaxy, Off The Chain, Silvermine, and Gaia Digital Assets. The company has also appointed leaders in traditional and decentralized finance, including Anthony Scaramucci, as advisors. The strategy aims to generate additional returns by integrating decentralized finance protocols and strategies specific to the Binance ecosystem. (Business Wire)