International law firm McDermott Will & Schulte represented Applied DNA Sciences (Nasdaq: BNBX) (Applied DNA), a biotechnology company advancing a yield focused BNB digital asset treasury strategy and commercializing nucleic acid production solutions, in its private investment in public equity “PIPE” offering of approximately $27 million with the potential for up to an additional $31 million from future warrant exercises.

In connection with the offering, Applied DNA pivoted to become a digital asset treasury company and entered into cryptocurrency asset management and related agreements with third parties. Gross proceeds included approximately $15 million in cash and stablecoins, and approximately $11.7 million in units of the OBNB trust.

The McDermott team was led by Merrill Kraines and Todd Kornfeld, with assistance from Joseph Evans, Daniel Hunter, Brian Tratner, Joseph Valerio, Charles Darantiere, Jina Choi, Zach Feinstein, Nishi Gupta, Ethan Heller, and Daniel Kaltman.

Read Applied DNA’s press release here.

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