CEA Industries Confirms June 29 Fiscal-Year-End Change, Denies Delisting Risk
CEA Industries confirms full compliance with Nasdaq Rule 5620(a), stating its annual meeting falls before its fiscal year end. The company notes its June 29, 2025 fiscal-year-end change, approved via Form 8-K on July 3, preceded YZi Labs’ share acquisition.
1. Full Compliance with Nasdaq Rule 5620(a)
CEA Industries confirms full compliance with Nasdaq Rule 5620(a), which requires the annual meeting to occur within a specified period relative to fiscal year end. With over two months remaining in its fiscal year, the company states it meets all listing requirements and can seek extensions if necessary.
2. Rationale for Fiscal Year-End Change
The company shifted its fiscal year end to June 29, 2025 to align with its largest operating business. This change was approved under applicable law and disclosed via Form 8-K filed on July 3, 2025, before any shares were acquired by YZi Labs.
3. Refutation of Delisting Claims
BNC labels YZi Labs’ assertions of delisting risk as false and reckless, stating the claims ignore Nasdaq rules and the approved fiscal-year adjustment. Management emphasizes focus on disciplined governance, long-term value creation and acting in the interests of all stockholders.
4. Consent Revocation Solicitation Plan
To counter YZi Labs’ consent solicitation, the company plans to file a consent revocation statement on Schedule 14A along with a yellow consent revocation card. Stockholders are encouraged to review the revocation materials once filed to protect their interests.