YZi Labs submitted a preliminary consent statement to the U.S. SEC, intending to expand the board size of CEA Industries and elect additional directors.

On November 28, according to official news, YZi Labs Management Ltd. stated that, as a major 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 consent in writing to expand the size of the company's board of directors to add experienced and highly qualified directors. YZi Labs said that its investment in BNC is based on the company's solid fundamentals, the highly attractive digital asset treasury strategy centered around BNB, and its potential to become a defining digital asset treasury (“DAT”) company in the industry category. However, YZi Labs believes that since the completion of the $500 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 regulation,” said Ella Zhang, head of YZi Labs. “We are seeking to expand the board of directors and add experienced and outstanding directors, and we believe they can provide stronger regulatory capacity to address issues such as the company's poor stock price performance and operational gaps, and help unlock the value that rightly belongs to shareholders. We look forward to introducing our nominated director candidates as soon as possible.”