YZi Labs Submits Preliminary Consent Solicitation to SEC, Seeking to Increase CEA Industries Board Size and Elect Additional Directors

On November 27, YZi Labs disclosed that it has submitted a preliminary consent statement to the U.S. Securities and Exchange Commission, seeking written consent from shareholders to increase the size of the board of directors of CEA Industries Inc. (Nasdaq: $BNC) and elect new directors.

As a shareholder of $BNC, YZi Labs stated that although $BNC completed a $500.00M PIPE financing this summer and the price of its primary asset BNB has risen sharply, the company's performance has not met expectations.

Ella Zhang, head of YZi Labs, said that $BNC's poor performance stems directly from poor strategic execution, insufficient investor communication, and a lack of effective oversight. The company also expressed concern about $BNC's delays in filing key SEC documents, the lack of investor updates on digital asset inventory and net asset value, and investors' continued confusion about the company's identity and strategy.

[TechFlow]