Yi Chen

- **Applied DNA Sciences** is pivoting from biotechnology to become a **digital asset treasury** focused on the native cryptocurrency **BNB** of the Binance blockchain, and will change its ticker symbol to **BNBX**.  **[744452_132163ea5c3447eebabecd6fa8f4e059]** 
- The company has secured commitments of up to **$58 million** through a private investment in public equity (PIPE) offering, comprising **$27 million** in cash, stablecoin, and OBNB Trust units, and an additional potential **$31 million** from future warrant exercises, with funds intended to acquire **BNB tokens**.  **[744452_132163ea5c3447eebabecd6fa8f4e059]** 
- **Clay Sharrock** has been named the new CEO, replacing Judy Murrah, and the company plans to establish a crypto strategic advisory board led by **Anthony Scaramucci** and **JR Pasch**.  **[744452_132163ea5c3447eebabecd6fa8f4e059]** 
- Applied DNA has entered into a **five-year agreement** with Cypress for discretionary asset management and strategic advisory services to support its **BNB treasury strategy**, aiming to generate yields materially higher than passive staking methods through active management and decentralized finance protocols.  **[744452_132163ea5c3447eebabecd6fa8f4e059]**

Applied DNA Sciences Announces Strategic Shift to BNB Digital Asset Treasury and $58M PIPE Offering

- Applied DNA Sciences, Inc. (APDN) entered into a private placement offering on September 29, 2025, expecting to raise approximately **$26.8 million** in gross proceeds, with closing anticipated around **October 1, 2025**.  **[744452_0001104659-25-094465_tm2527342d2_8k.htm:1]** 
- The net proceeds from the offering will primarily fund a new **BNB-focused treasury strategy**, involving digital asset management, staking, and participation in the Binance ecosystem.  **[744452_0001104659-25-094465_tm2527342d2_8k.htm:1]** 
- In support of this strategy, APDN engaged **Cypress LLC** for discretionary digital asset management services (with fees including 1/12 of **1.25% per annum** of net asset value and **10% on net returns**) and **Cypress Management LLC** as a strategic advisor (for **$60,000** monthly and Advisory Warrants representing **9.5%** of fully diluted common stock).  **[744452_0001104659-25-094465_tm2527342d2_8k.htm:3]** **[744452_0001104659-25-094465_tm2527342d2_8k.htm:4]** **[744452_0001104659-25-094465_tm2527342d2_8k.htm:6]** 
- Effective September 29, 2025, **Judith Murrah** stepped down as CEO and President, and **Clay D. Shorrock** was appointed as the new Chief Executive Officer.  **[744452_0001104659-25-094465_tm2527342d2_8k.htm:8]**

Applied DNA Sciences Announces Private Placement, Strategic Shift, and CEO Change

- Applied DNA Sciences announced a **private placement** of up to **$58 million** to initiate a **digital asset treasury strategy** based on BNB, the native cryptocurrency of the Binance blockchain ecosystem.  **[744452_9e3ceade769c4b1b8ba4d8c539eb3287_0]** 
- The company intends to change its ticker symbol to **"BNBX"** to reflect this new strategic focus.  **[744452_9e3ceade769c4b1b8ba4d8c539eb3287_0]** 
- The private placement has secured **$27 million** in commitments, with the potential for an additional **$31 million** from warrant exercises, and is expected to close around **October 1, 2025**.  **[744452_9e3ceade769c4b1b8ba4d8c539eb3287_0]** 
- Key leadership changes include the appointment of **Clay Shorrock as President and CEO**, effective immediately, and the addition of **Anthony Scaramucci as Strategic Capital Markets Advisor**.  **[744452_9e3ceade769c4b1b8ba4d8c539eb3287_2]** **[744452_9e3ceade769c4b1b8ba4d8c539eb3287_3]** 
- The company entered into **five-year agreements** with Cypress LLC for discretionary asset management services, which includes a **1.25% annual management fee** and a **10% incentive fee** of net returns, and with Cypress Management LLC for strategic guidance at **$60,000 per month**.  **[744452_9e3ceade769c4b1b8ba4d8c539eb3287_3]**

APPLIED DNA SCIENCES (APDN)