YZi Labs: CEA Industries Board Adopts Poison Pill Plan to Consolidate Position, Calls for Ensuring Fair Election

Odaily News YZi Labs posted on platform X, stating that as a significant shareholder of CEA Industries (BNC), it is disappointed by the board's adoption of a "poison pill" plan and amendments to the bylaws in response to YZi Labs' solicitation of written consent process. YZi Labs believes these actions are intended to thwart and delay shareholders' ability to exercise their rights through written consent, aiming to consolidate the board's position rather than protect shareholder interests.

YZi Labs pointed out that the BNC board has postponed the 2025 annual meeting originally scheduled for December 17th. It calls on the board to avoid further manipulative actions and ensure fairness in the director nomination and election process. Furthermore, YZi Labs refuted BNC's statement about never considering an alternative token strategy, claiming that BNC CEO David Namdar explicitly mentioned considering a switch to assets like Solana during a meeting in November 2025.

YZi Labs has filed a preliminary consent statement with the SEC, proposing to expand the size of the BNC board and elect its nominated director candidates. Participants in this solicitation include YZi Labs Management, Binance founder Changpeng Zhao, Max Baucus Sieben, David James Chapman, Marie Teresa Goody Guillené, Jiajin He, Alex Odagiu, Matthew Roszak, and Ling Zhang. Currently, YZi Labs Management directly holds 2,150,481 shares of BNC common stock.