Applied DNA reveals private placement plan to raise up to $58M for BNB treasury initiation.

Investment Announcement: Applied DNA Sciences has secured up to $58 million in commitments for a private investment in public equity (PIPE) offering, aimed at initiating a digital asset treasury strategy focused on BNB, the cryptocurrency of the Binance ecosystem.

Strategic Partnerships: The company has entered into a five-year agreement with Cypress for asset management and strategic guidance to support its BNB treasury strategy, which aims to generate higher yields through active management and engagement within the Binance ecosystem.

Ticker Change: To reflect its new focus, Applied DNA Sciences plans to change its ticker symbol to "BNBX" following the closing of the PIPE, expected around October 1, pending customary conditions.

Active Management Approach: The company intends to implement a differentiated digital asset treasury strategy that prioritizes risk management and aims to deliver yields significantly higher than traditional methods through innovative decentralized finance protocols.