YZi Labs Calls on 10X Capital and Director Hans Thomas to Immediately Disclose Their Beneficial Ownership of CEA Industries

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[{"type":"text","content":"Believes 10X Capital and Hans Thomas Have Breached Sections 13(d) and 16(a) of the Exchange Act, Respectively, by Failing to Disclose Their Beneficial Ownership of BNC","length":167,"tagName":"p"},{"type":"text","content":"ROAD TOWN, British Virgin Islands, Feb. 18, 2026 (GLOBE NEWSWIRE) -- YZILabs Management Ltd. (“YZi Labs”) today announced that it has formally delivered a letter to 10X Capital Asset Management LLC, its affiliated entities, and certain related individuals (together, “10X Capital”) regarding its significant concerns that 10X Capital appears to have breached Sections 13(d) and 16(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) in connection with 10X Capital’s ownership of shares of common stock of CEA Industries Inc. (Nasdaq: BNC) (“BNC” or the “Company”).","length":575,"tagName":"p"},{"type":"text","content":"Section 13(d)(1) of the Exchange Act requires a person to file a Schedule 13D within five business days of such person’s ownership exceeding 5% of a public issuer’s outstanding stock. Section 13(d)(3) of the Exchange Act requires that when two or more persons or entities act together with respect to the acquisition, holding, or voting of a public company’s securities, their beneficial ownership is aggregated for purposes of determining their disclosure obligations.","length":469,"tagName":"p"},{"type":"text","content":"Based on publicly available information, YZi Labs believes that 10X Capital has beneficially owned in excess of 5% of BNC’s outstanding common stock since at least late 2025 and has failed to file a Schedule 13D disclosing the formation of such group. In addition, it is unclear whether Hans Thomas, a Founding Partner of 10X Capital and a director of BNC, beneficially owns any BNC securities. Despite currently serving as a director of the Company, Mr. Thomas has not filed a Form 3 with the Securities and Exchange Commission (the “SEC”) and therefore has not complied with his initial ownership reporting obligations under Section 16(a) of the Exchange Act.","length":661,"tagName":"p"},{"type":"text","content":"In contrast, YZi Labs promptly filed its initial Schedule 13D with the SEC on November 26, 2025, within the required timeframe, based upon the Company’s share repurchases pushing YZi Labs over the 5% reporting obligation threshold. Subsequently and in response to the Compan...

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