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YZi Labs pushes board change at CEA Industries (BNC) with 2.15M shares

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
DFAN14A

Rhea-AI Filing Summary

YZi Labs Management has filed a preliminary consent statement and a WHITE consent card to solicit written stockholder consents to expand the Board of Directors of CEA Industries Inc. and elect nominated directors. The participants requested the Company set a record date to permit stockholder written consents, as disclosed in Amendment No. 3 to a Schedule 13D filed on March 16, 2026.

YZi Labs Management directly beneficially owns 2,150,481 shares of common stock and reports warrants exercisable into 7,750,510 Pre-Funded Warrant shares, 9,900,991 Stapled Warrant shares, and 3,564,359 Strategic Advisor Warrant shares. Those warrants are subject to a 4.99% beneficial ownership limitation and are not expected to be exercisable within 60 days due to that limitation. Consent materials will be available free on the SEC website.

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Insights

YZi Labs is pursuing board control via a written-consent solicitation while citing ownership caps.

The filing shows a coordinated consent solicitation seeking to expand the board and elect nominees, anchored by YZi Labs Management's direct ownership of 2,150,481 shares and sizeable warrant positions exercisable into millions of additional shares. The warrants include a 4.99% beneficial ownership limitation that currently prevents exercise.

Outcomes depend on the Company setting a record date and on stockholder participation. Subsequent consent statement materials and the Schedule 13D amendment on March 16, 2026 will provide further mechanics and timelines.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE 14A
(Rule 14a-101)

INFORMATION REQUIRED IN PROXY STATEMENT

SCHEDULE 14A INFORMATION

Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934
(Amendment No. )

 

Filed by the Registrant

Filed by a Party other than the Registrant ☒

Check the appropriate box:

Preliminary Proxy Statement
Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))
Definitive Proxy Statement
Definitive Additional Materials
Soliciting Material Under Rule 14a-12

CEA INDUSTRIES INC.

(Name of Registrant as Specified in Its Charter)

 

YZILABS MANAGEMENT LTD.

CHANGPENG ZHAO

MAX S. BAUCUS

DAVID J. CHAPMAN

TERESA MARIE GOODY GUILLÉN

JIAJIN “JANE” HE

ALEX ODAGIU

MATTHEW ROSZAK

LING “ELLA” ZHANG

(Name of Persons(s) Filing Proxy Statement, if Other Than the Registrant)

 

Payment of Filing Fee (Check the appropriate box):

No fee required
Fee paid previously with preliminary materials
Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11
 
 

 

YZILabs Management Ltd. (“YZi Labs Management”), together with the other participants named herein, has filed a preliminary consent statement and an accompanying WHITE consent card with the Securities and Exchange Commission (the “SEC”) to be used to solicit stockholder written consents to, among other things, expand the size of the Board of Directors (the “Board”) of CEA Industries Inc., a Nevada corporation (the “Company”) and elect certain persons nominated for election to the Board.

Item 1: On March 16, 2026, YZi Labs Management filed its Amendment No. 3 to the Schedule 13D with respect to the Company announcing the delivery of its request that the Company set a record date for determining stockholders entitled to act by written consent without a meeting in order for stockholders to be able to provide written consents for the approval of the proposals set forth in its preliminary consent statement. A copy of YZi Labs Management’s Amendment No. 3 to the Schedule 13D is attached hereto as Exhibit 1 and is incorporated herein by reference.

 


CERTAIN INFORMATION CONCERNING THE PARTICIPANTS


YZILabs Management Ltd. (“YZi Labs Management”), together with the other participants named herein (collectively, “YZi Labs”), has filed a preliminary consent statement and an accompanying WHITE consent card with the Securities and Exchange Commission (“SEC”) to be used to solicit stockholder written consents to, among other things, expand the size of the Board of Directors (the “Board”) of CEA Industries Inc., a Nevada corporation (the “Company”) and elect certain persons nominated for election to the Board.

 

YZI LABS STRONGLY ADVISES ALL STOCKHOLDERS OF THE COMPANY TO READ THE CONSENT STATEMENT AND OTHER CONSENT MATERIALS, INCLUDING A WHITE CONSENT CARD, AS THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. SUCH CONSENT MATERIALS WILL BE AVAILABLE AT NO CHARGE ON THE SEC’S WEBSITE AT HTTP://WWW.SEC.GOV. IN ADDITION, THE PARTICIPANTS IN THIS CONSENT SOLICITATION WILL PROVIDE COPIES OF THE CONSENT STATEMENT WITHOUT CHARGE, WHEN AVAILABLE, UPON REQUEST.

 

The participants in the consent solicitation are expected to be YZi Labs Management, Changpeng Zhao, Max Baucus Sieben, David James Chapman, Marie Teresa Goody Guillené, Jiajin He, Alex Odagiu, Matthew Roszak and Ling Zhang (collectively, the “Participants”).

 

As of the date hereof, YZi Labs Management directly beneficially owns 2,150,481 shares of common stock, par value $0.00001 per share (the “Common Stock”). As of the date hereof, YZi Labs Management holds (i) 7,750,510 shares of Common Stock underlying certain Pre-Funded Warrants (the “Pre-Funded Warrants”), (ii) 9,900,991 shares of Common Stock underlying certain Stapled Warrants (the “Stapled Warrants”) and (iii) 3,564,359 shares of Common Stock underlying certain Strategic Advisor Warrants (the “Strategic Advisor Warrants”). Each of the Pre-Funded Warrants, the Stapled Warrants and the Strategic Advisor Warrants either provide that, or the holder has elected that, the holder shall not have the right to exercise any portion of any such warrants to the extent that after giving effect to such issuance after exercise, such holder and certain of its affiliates would be deemed to beneficially own, as determined in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended, more than 4.99% of the Company’s then outstanding shares of Common Stock (the “Beneficial Ownership Limitations”). As of the date hereof, none of YZi Labs Management’s Pre-Funded Warrants, Stapled Warrants or Strategic Advisor Warrants are currently exercisable, and are not expected within 60 days to be exercisable due to the Beneficial Ownership Limitations. Mr. Zhao, as the sole director of YZi Labs Management, may be deemed the beneficial owner of the 2,150,481 shares of Common Stock directly owned by YZi Labs. As of the date hereof, Ms. He may be deemed to beneficially own 2,099,644 shares of Common Stock, including 1,188,120 shares of Common Stock underlying certain Stapled Warrants, and Mr. Odagiu may be deemed to beneficially own 4,918 shares of Common Stock. As of the date hereof, each of Messrs. Baucus, Chapman and Roszak, and Msses. Goody Guillen and Zhang do not beneficially own any shares of Common Stock.

 

 

 

FAQ

What action is YZi Labs taking regarding CEA Industries (BNC)?

Yzi Labs filed a preliminary consent statement to solicit written consents to expand the board and elect nominees. The filing requests the Company set a record date to permit stockholder written consents as disclosed in an Amendment to a Schedule 13D.

How many CEA common shares does YZi Labs Management beneficially own?

Yzi Labs Management directly beneficially owns 2,150,481 shares of common stock. The filing lists additional warrants exercisable into millions of shares, subject to ownership limits, which affect potential future ownership.

What warrants does YZi Labs report and how do ownership limits apply?

The filing reports 7,750,510 Pre-Funded Warrant shares, 9,900,991 Stapled Warrant shares, and 3,564,359 Strategic Advisor Warrant shares. Each is subject to a 4.99% beneficial ownership limitation that currently prevents exercise within 60 days.

Will YZi Labs provide consent materials to stockholders free of charge?

Yes. YZi Labs states consent materials and the WHITE consent card will be available at no charge on the SEC website and will be provided without charge upon request when available.

Who are the participants named in the solicitation?

The participants include YZi Labs Management and individuals listed as Changpeng Zhao, Max S. Baucus, David J. Chapman, Teresa Marie Goody Guillén, Jiajin He, Alex Odagiu, Matthew Roszak and Ling Zhang.
CEA Industries

NASDAQ:BNC

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144.97M
38.88M
Farm & Heavy Construction Machinery
Industrials
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United States
LOUISVILLE