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Applied DNA Sciences, Inc. (NASDAQ: APDN) ("Applied DNA" or the "Company"), a biotechnology company focused on providing nucleic acid production solutions, today announced up to $58 million in commitments for a private investment in public equity ("PIPE") offering led by institutional investors to initiate a digital asset treasury strategy based on BNB, the native cryptocurrency of the Binance blockchain ecosystem, the world's largest cryptocurrency exchange1. Following the closing, the Company intends to begin deploying funds to acquire BNB, creating a gateway for institutional and retail investors to participate in the BNB blockchain and Binance ecosystem that powers millions of users and decentralized applications worldwide.
The Company entered into securities purchase agreements with accredited investors in two concurrent private placements: (i) a cash offering involving 4,730,178 shares of common stock (or prefunded warrants) and common warrants; and (ii) a cryptocurrency offering involving 3,334,471 prefunded warrants and common warrants (collectively the "Offerings"). The warrants in both Offerings have an exercise price of $3.82 and a 5-year term. Consideration for the Offerings included U.S. dollars, stablecoins, or crypto-equivalent assets. The Prefunded warrants and warrants issued in the cryptocurrency offering are not exercisable until stockholder approval is obtained and the subscription amount is delivered in an acceptable, transferable form free of encumbrances.
Lucid Capital Markets acted as sole placement agent for the Offering.
In addition, on September 29, 2025, the Company entered into a five-year Strategic Digital Assets Services Agreement (the "the DAS Agreement") with Cypress LLC ("Cypress") to provide discretionary asset management services supporting its BNB treasury strategy. The DAS Agreement includes management a fee to Cypress of 1.25% per annum of net assets under management, as well as an incentive fee equal to 10% of net returns per annum. Also On September 29, 2025, the Company entered into a five-year Strategic Advisor Agreement (the "Advisor Agreement) with Cypress Management LLC ("Cypress Management" an affiliate of Cypress LLC) to provide strategic and technical guidance on business operations relating to its BNB treasury strategy. Under the Advisor Agreement the Company shall pay Cypress Management a fee of $60,000 per month. In addition, Cypress Management was granted 5-year warrants to purchase common stock equal to 9.5% of the common stock on the closing date on an as converted fully dilated basis with an exercise price of $3.82.
Posted In: APDN
