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YZi Labs Calls on CEA Industries to Ensure Stockholders Can Exercise Written Consent Rights
ROAD TOWN, British Virgin Islands, Feb. 06, 2026 (GLOBE NEWSWIRE) -- YZILabs Management Ltd. (“YZi Labs”), a significant stockholder of CEA Industries Inc. (NASDAQ: BNC) (“BNC” or the “Company”), today announced that it has delivered a letter to the Company’s Board of Directors (the “Board”) requesting that the Company clarify how the recently amended and restated bylaws (the “Amended and Restated Bylaws”) will be applied in connection with stockholders’ ability to act by written consent. YZi La
About this update from Cea Industries Inc.
[{"type":"text","content":"ROAD TOWN, British Virgin Islands, Feb. 06, 2026 (GLOBE NEWSWIRE) -- YZILabs Management Ltd. (“YZi Labs”), a significant stockholder of CEA Industries Inc. (NASDAQ: BNC) (“BNC” or the “Company”), today announced that it has delivered a letter to the Company’s Board of Directors (the “Board”) requesting that the Company clarify how the recently amended and restated bylaws (the “Amended and Restated Bylaws”) will be applied in connection with stockholders’ ability to act by written consent.","length":493,"tagName":"p"},{"type":"text","content":"YZi Labs believes certain procedural requirements introduced in the Amended and Restated Bylaws – adopted after YZi Labs had already commenced its consent solicitation to expand the size of the Board and elect new directors – could have a materially chilling effect on stockholders’ ability to act by written consent, despite the Company’s public statements that the Amended and Restated Bylaws do not prevent YZi Labs’ solicitation.","length":433,"tagName":"p"},{"type":"text","content":"Under Article III, Section .02 of the Amended Bylaws1, only holders of record may execute written consents directly. Because most public company shares are held through brokers or other nominees as part of standard capital markets practice, many stockholders may be required to navigate multiple intermediary steps in order to participate in the consent process, introducing significant logistical burdens and uncertainty surrounding timing and execution.","length":455,"tagName":"p"},{"type":"text","content":"“These rights only matter if stockholders can actually use them,” said Alex Odagiu, Investment Partner at YZi Labs. “We are simply asking the Company to confirm that the consent process will remain practical and accessible to stockholders.”","length":240,"tagName":"p"},{"type":"text","content":"YZi Labs has requested that the Company waive certain execution requirements for the ongoing consent solicitation, or confirm that written consents submitted through customary brokerage and nominee processes will be accepted, consistent with typical public company practice.","length":274,"tagName":"p"},{"type":"text","content":"YZi Labs remains committed to constructive engagement with the Company and its Board and believes that ensuring a fair and orderly consent process is in the best interests of all stockholders.","...