YZi Labs submits preliminary consent statement to the US SEC, proposing to expand the CEA Industries board and elect new directors

ChainCatcher News, according to official sources, YZi Labs Management Ltd. announced 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 shareholder written consent to expand the company's board of directors by appointing experienced and highly qualified directors.

YZi Labs stated that its investment in BNC is based on the company’s solid fundamentals, an attractive digital asset treasury strategy centered on BNB, and its potential to become a category-defining Digital Asset Treasury (“DAT”) company. However, YZi Labs believes that since the completion of the $500 million PIPE financing this summer, despite the significant appreciation of BNC’s main treasury asset BNB, BNC’s performance has deviated from the expected results that this investment logic should have brought.

“We believe BNC’s underperformance 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 board and appoint experienced and outstanding directors, as we believe they can provide stronger oversight, address issues such as poor stock performance and operational gaps, and help unlock the value that rightfully belongs to shareholders. We look forward to introducing our nominated board candidates soon.”