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Applied DNA Sciences has secured $58 million in PIPE financing to launch its BNB asset strategy.
[Chain News] PANews, September 30th news, biotechnology company Applied DNA Sciences, Inc. (NASDAQ: APDN) announced that it has obtained a subscription commitment for a private equity investment public trading (PIPE) led by institutional investors, with an amount of up to $58 million, to initiate a BNB-based digital asset financial strategy. The company has secured a total of $27 million in funding commitments through PIPE, with the funds comprising cash, stablecoins, and OBNB trust units. In the future, by exercising warrants, the company also expects to receive up to $31 million in additional investment, bringing the total fundraising amount to a maximum of $58 million. The PIPE transaction is expected to be completed around October 1, 2025. To support its BNB reserve strategy, the company has signed a five-year Strategic Digital Asset Service Agreement with Cypress LLC, providing full asset management services.