YZi Labs has submitted a preliminary consent statement to the US SEC, planning to expand the size of the CEA Industries board of directors and elect new directors.

On November 28, according to official news, YZi Labs Management Ltd. stated that as a significant shareholder of CEA Industries Inc. (Nasdaq: $BNC), it has submitted a preliminary consent statement to the U.S. Securities and Exchange Commission (SEC), seeking shareholders' written consent to expand the size of the company's board of directors to add experienced and highly qualified directors.

YZi Labs stated that the reason for investing in $BNC is based on the company's solid fundamentals, a highly attractive BNB-centric digital asset treasury strategy, and its potential to become an industry-defining digital asset treasury ("DAT") company. However, YZi Labs believes that since the completion of the $500.00 million PIPE financing this summer, despite the significant appreciation of the company's main treasury asset $BNB, $BNC's performance has deviated from the results that this investment logic should have brought.

"We believe that $BNC's poor performance is a direct result of weak strategic execution, insufficient investor communication, and a lack of effective oversight," said Ella Zhang, head of YZi Labs. "We are seeking to expand the size of the board of directors and add experienced and capable directors who we believe can provide stronger oversight, address issues such as poor company stock performance and operational gaps, and help unlock value that rightfully belongs to shareholders. We look forward to introducing our nominated director candidates as soon as possible."

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