Brief: Brian Tunick Reports 7.4% Stake In CEA Industries

BNB Standard

25/04/2024 22:54

April 25 (Reuters) - 
    Brian Tunick: 
  
    * BRIAN TUNICK REPORTS 7.4% STAKE IN CEA INDUSTRIES INC AS
OF
APRIL 11 - SEC FILING
    * BRIAN TUNICK -  PURCHASED CEA INDUSTRIES' SHARES OF COMMON
STOCK
BASED ON BELIEF THAT THE SHARES WHEN PURCHASED, WERE UNDERVALUED
    * BRIAN TUNICK - IS CONCERNED THAT CEA INDUSTRIES CASH
RESERVES OF
$12.5 MILLION WILL NOT BE RETURNED TO SHAREHOLDERS IN A TIMELY
NATURE
    * BRIAN TUNICK - BELIEVES IT WOULD BE IN THE BEST INTEREST
OF
SHAREHOLDERS IF CEA INDUSTRIES WERE TO DIVIDEND OUT ALL OR A
MAJORITY OF ITS CASH ON HAND

Source text for Eikon:  ID:n0001213900-24-036276 

 ((Reuters.Briefs@thomsonreuters.com;))