YZi Labs Files Preliminary SEC Consent to Expand BNC Board, Aiming to Strengthen Governance of Its BNB-Centric Treasury Strategy
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COINOTAG News, citing official sources, reports that YZi Labs Management Ltd., a material shareholder of CEA Industries Inc. (Nasdaq: BNC), has filed a preliminary SEC consent to secure shareholder approval for board expansion and the appointment of seasoned directors.
YZi Labs’ investment thesis rested on BNC’s solid fundamentals, a BNB-centric digital asset treasury strategy, and the potential to position the firm as a leading Digital Asset Treasury player.
Even after a $500 million PIPE financing this summer and a rally in BNB, YZi Labs says BNC’s performance has diverged from the expected trajectory, citing weak strategic execution, limited investor communication, and governance gaps.
The firm plans to broaden governance by adding experienced directors to strengthen oversight, address stock performance and operational gaps, and unlock shareholder value; nominated director candidates are expected to be announced.