US EditionCZ-Backed YZi Labs Clashes with CEA Industries Over Poison Pill
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6 Articles
CZ-Backed YZi Labs Clashes with CEA Industries Over Poison Pill
Changpeng “CZ” Zhao-backed YZi Labs has escalated its campaign against CEA Industries over a newly adopted poison pill (a defensive tactic a company’s board uses to make a hostile takeover extremely difficult or expensive), and bylaw amendments that it claims are “stockholder-unfriendly” and intended to entrench the current board. The investment firm, backed by Binance founder CZ, outlined its objections in a Jan. 5 filing with the United State…
YZi Labs Accuses CEA Industries Board of Entrenchment, Manipulation
YZi Labs, a major investor in blockchain-focused company CEA Industries Inc., which trades on the Nasdaq under the ticker BNC, has launched a public campaign against its board, alleging efforts to silence shareholders. The clash puts corporate governance and CEA’s crypto treasury direction under scrutiny, as YZi claims the board has strayed from the BNB-focused plan that originally drew investor backing. Shareholder Battle Erupts Over Strategy a…
YZi Labs Criticizes CEA for Adopting Shareholder-Restrictive Measures
TL;DR YZi Labs blasted CEA Industries for adopting a poison pill and bylaw changes it says restrict written-consent action by shareholders. After YZi sought board expansion and filed to form a coordinated stockholder group, CEA set a 15% trigger that grants others a 50% discount on shares. YZi cited post-July underperformance versus BNB, warned about meeting delays and strategy drift, and called for constructive dialogue to protect shareholders…
YZi Labs, an investment firm backed by Changpeng Zhao, accused Nasdaq-listed CEA Industries of taking steps to protect the current management and that are not shareholder-friendly, suggesting that the partnership between the parties will soon turn sour… Crisis Between Binance Founder CZ and BNB Treasury: Management Battle...
Tenions between CEA Industries and YZi Labs are climbing, now that Changpeng Zhao-backed company condemns defensive measures such as “antipathic to shareholders.” *** Tenions between CEA Industries and YZi Labs are climbing. YZi Labs, backed by Changpeng Zhao, condemns defensive measures such as “antipathic to shareholders.” CEA Industries changed its model of vapers to a treasury focused on BNB last year. YZi Labs argues, however, that the comp…
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