The publicly listed company Applied DNA Sciences plans to raise up to $58 million through a private placement to initiate its BNB financial strategy

ChainCatcher news reports that biotechnology company Applied DNA Sciences, Inc. (NASDAQ: APDN) has announced that it has received a commitment for a private investment in public equity (PIPE) led by institutional investors, with a maximum 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 the PIPE, with the funding consisting of cash, stablecoins, and OBNB trust units. In the future, by exercising warrants, the company is also expected to obtain 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 Services Agreement with Cypress LLC, which will provide full asset delegation management services.