CEA Industries taps industry veteran to explore merger, sale

LOUISVILLE — CEA Industries Inc. (Nasdaq: CEAD) has retained Nicholas Etten to explore  potential merger or acquisition options for the company.

Etten serves as a director of the company and will “provide services covering transaction sourcing and evaluation, in the [c]ompany’s effort to arrange for a merger, acquisition, combination or other strategic transaction,” the company stated in a filing with the U.S. Securities and Exchange Commission..

Etten has a background in corporate development and investment banking in multiple industries. He will be paid $2,500 per week for a minimum of 10 hours per week and a maximum of 40 hours per month.

The consulting agreement will be on a month-to-month basis, with either party able to terminate the agreement with five days’ notice.

The Louisville-based company, which provides controlled-agriculture solutions for cannabis companies, announced in August 2023 that it would “review strategic alternatives, including a sale, merger or other potential strategic or financial transaction, to protect and maximize shareholder value.”

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