CEA Industries Announces $250 Million Share Repurchase Plan
By Stephen Nakrosis
CEA Industries said its board has approved a new repurchase program for up to $250 million of the company's common stock.
Chief Executive David Namdar said the new program reflects confidence in the long-term value of the company and its conviction in BNB, the native token of the Binance cryptocurrency exchange.
The company's shares, which closed Friday's regular session at $9.69, losing 11%, rebounded in the after-hours session, and were trading 10.4% higher, at $10.70.
Earlier this year, the company announced a shift in focus, saying it was working on building significant exposure to BNB. Prior to the announcement, the company had been engaged in the production and sale of cultivation technologies for controlled environments.
Over the past month, the company's shares are down 64%, but are up 19% year to date, and up 42% over the last 52 weeks.
CEA has a market cap of $9.17 million, 841,346 shares outstanding, and a public float of 688,188 shares.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
September 19, 2025 19:01 ET (23:01 GMT)
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