CEA Industries (NASDAQ: VAPE) recorded an explosive move on Monday, surging over 600% at the market open.
As of press time, VAPE was trading at $62.74, up 606% on the day. The stock has now climbed more than 630% over the past year and 500% year-to-date.
The rally was triggered by the company’s announcement of a $500 million private investment in public equity (PIPE) deal, which could grow to $1.25 billion through the exercise of attached warrants.
The funding includes $400 million in cash, $100 million in cryptocurrency assets, and up to $750 million from potential warrant exercises.
Additionally, the proceeds will be used to build a treasury of Binance Coin (BNB) as part of the company’s pivot into the crypto space. CEA Industries now joins a growing list of Wall Street firms establishing cryptocurrency treasuries amid rising institutional demand for digital assets.
This development follows a ticker change to VAPE, symbolizing the firm’s strategic shift. The PIPE deal attracted strong institutional interest, with over 140 subscribers, including Pantera Capital, Blockchain.com, and YZi Labs.
CEA Industries’ leadership change
To lead this transformation, the company is also reshaping its executive team. Galaxy Digital co-founder David Namdar has been named CEO, joined by Russell Read (former CalPERS CIO) and Saad Naja. The transaction is expected to close by July 31, 2025.
Investor sentiment also received a boost from a recent regulatory decision. Last week, the FDA authorized Juul’s marketing applications, offering a rare win for the vaping industry.
Before this strategic overhaul, CEA Industries was recognized for its Controlled Environment Agriculture (CEA) solutions, which provided technology and infrastructure for the indoor cultivation of crops such as cannabis, leafy greens, and herbs.
Whether the stock can sustain its momentum remains uncertain, as price volatility has sharply increased in recent sessions.
Featured image via Shutterstock
