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CEA Industries Inc. reports corporate developments tied to its shift toward the vaping industry after acquiring Fat Panda, a Canadian retailer and manufacturer of e-cigarettes, vape devices and e-liquids. News has included financial results, investor presentations, conference participation, and market-identity changes associated with the company’s Nasdaq-listed securities.
Earlier company updates also described CEA Industries’ suite of offerings for the controlled environment agriculture industry. Recurring disclosures now include operating and financial results, material agreements, shareholder matters, capital-structure updates, and regulatory communications relevant to its public-company status.
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.