YZi Labs: CEA Industries' board adopts a poison pill plan to hinder shareholders' exercise of written consent rights, urging the board to avoid further manipulative actions.

On January 7th, YZi Labs posted on the X platform stating that, as a significant shareholder of CEA Industries (BNC), YZi Labs is disappointed with the company’s board of directors’ “poison pill” plan and amendments to the bylaws in response to the written consent solicitation initiated by YZi Labs. YZi Labs believes these actions are aimed at thwarting and delaying shareholders’ ability to exercise their rights through written consent, with the goal of consolidating the board’s position rather than protecting shareholders’ interests. It calls on the board to avoid further manipulative actions. YZi Labs pointed out that the BNC board has postponed the originally scheduled 2025 annual meeting on December 17th, and urges the board to prevent further manipulative behavior and ensure fairness in the director nomination and election process. Additionally, YZi Labs refuted BNC’s statement that it has never considered an alternative token strategy, stating that BNC CEO David Namdar explicitly indicated at a meeting in November 2025 that switching to assets like Solana had been considered. YZi Labs has submitted a preliminary consent statement to the SEC, proposing to expand the BNC board and elect its nominated director candidates. Participants in this solicitation include YZi Labs Management, CEX 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.