YZi Labs urges 10X Capital and Hans Thomas to disclose BNC ownership

YZi Labs Management Ltd. said it has formally sent a letter to 10X Capital Asset Management LLC and director Hans Thomas calling for the immediate disclosure of their beneficial ownership in CEA Industries Inc. (BNC), citing potential violations of U.S. securities disclosure rules.

According to YZi Labs, investors who exceed 5% ownership in a public company must file a Schedule 13D within five business days. The firm believes 10X Capital has held more than 5% of BNC shares since late 2025 but has not filed the required disclosure. It also said Thomas, a BNC board member and founding partner at 10X Capital, has not filed Form 3 reporting his initial ownership with the US Securities and Exchange Commission as required under Section 16(a).

YZi Labs stated it has complied with its own Schedule 13D filing obligations and stressed that timely, transparent ownership disclosure is essential to protect shareholder rights and maintain market integrity.