CEA Industries Stock Price, News & Analysis

CEA Industries Inc. (NASDAQ: CEAD) subsidiary, Surna Cultivation Technologies, has secured a $2.1 million contract for HVACD systems with a Maryland facility. This agreement follows previous work on a 37,000 square-foot cultivation space. The project includes comprehensive HVACD equipment such as EnviroPro™ air handlers, IsoStream® fan coils, and SentryIQ® controls. Surna's advanced technology aims to enhance environmental control and energy management for cultivators.

CEA Industries Inc. (NASDAQ: CEAD) subsidiary Surna Cultivation Technologies has secured a contract for architectural design and MEP engineering services for a 15,000 square foot indoor cultivation facility in Michigan. This contract aims to streamline the design process, minimizing conflicts, revisions, and enhancing efficiency. Surna aims to provide clients with reliable, efficient cultivation solutions within budget constraints, ensuring operational competitiveness. With over 15 years of experience, Surna has been instrumental in optimizing crop quality and yield for growers.

Louisville, Colorado, Feb. 24, 2022 – CEA Industries (NASDAQ: CEAD) announced that its subsidiary, Surna Cultivation Technologies, has been awarded four engineering contracts for indoor farms across the U.S. This marks a positive shift as cultivators are increasingly involving Surna’s engineering teams earlier in their projects, allowing for tailored solutions based on specific facility needs. The contracts cover mechanical, plumbing, and architectural engineering across facilities in California, Michigan, Ohio, and Massachusetts, reflecting Surna's expanded product portfolio and strategic initiatives.

Surna Cultivation Technologies LLC, a subsidiary of CEA Industries (NASDAQ: CEAD), is set to participate in multiple upcoming trade conferences, including the Indoor Ag-Con in Las Vegas and NeCann in Boston. The company aims to engage with clients and industry professionals to enhance brand awareness and foster relationships. Surna is recognized for its expertise in controlled environment agriculture, offering tailored solutions that improve crop quality and operational efficiencies. With over 15 years in the industry, Surna has successfully served over 800 cultivators.

CEA Industries Inc. (NASDAQ: CEAD, CEADW) has successfully closed its underwritten public offering, raising $24,000,000 through the sale of 5,811,138 shares of common stock and warrants. Each share and warrant is priced at $4.13, with warrants exercisable at $5.00, valid for five years. The offering supports the company’s growth initiatives, including new products and potential acquisitions. The underwriter also has a 45-day option to purchase additional shares/warrants.

CEA Industries Inc. (NASDAQ: CEAD, CEADW) has priced an underwritten public offering of 5,811,138 shares of common stock along with warrants to purchase an equal number of shares, at a combined price of $4.13 per unit, aiming to raise $24 million. The offering is expected to close on February 15, 2022. The company will use proceeds to redeem 1,650 shares of its Series B Preferred Stock and for general corporate purposes. The common stock and warrants will be traded on Nasdaq, starting February 11, 2022.

CEA Industries Inc. (OTCQB: CEAD) announced a 1-for-150 reverse stock split effective February 9, 2022. Each 150 shares will convert to one share, reducing outstanding shares to approximately 1.6 million. The move aims to improve the company’s capital structure in preparation for a planned listing on the Nasdaq Capital Market. A temporary 'D' will be added to the ticker symbol for 20 business days following the split. Shareholders will not receive fractional shares, which will round up to the next whole share.

Surna Cultivation Technologies has appointed Leandru Schiau as Product Manager to enhance its growth strategy. Schiau brings over a decade of expertise in product development from his previous roles at Cirris Inc. and Emerson Automation Solutions. This hire aligns with Surna's initiative to introduce new products rapidly, as emphasized by Vice President Jamie English. The company specializes in controlled environment agriculture and has supported over 800 cultivators, focusing on improving crop quality and operational efficiency.

CEA Industries Inc. (OTCQB: CEAD) has officially changed its trading name from Surna Inc. to CEA Industries Inc. as of January 24, 2022. This change reflects the company's ongoing growth strategy and aims to position it as a diversified leader in controlled environment agriculture (CEA). The ticker symbol has also changed from SRNA to CEAD. Current shareholders are not required to take any action, and this shift will not affect the company's business goals or financials. CEA Industries is committed to expanding its portfolio through strategic partnerships and acquisitions.