YZi Labs ends consent request after governance and leadership agreement
The board appoints Ella Zhang, Alex Odagiu and Matthew Rozak, who bring additional expertise in the digital assets sector and insight into the BNB ecosystem to support long-term shareholder value
Company to form CEO Search Committee and appoint YZi Labs partner Alex Odagiu as interim president
LOUISVILLE, CO, June 23, 2026 (GLOBE NEWSWIRE) – CEA Industries Inc. (Nasdaq: BNC) (“BNC” or the “Company”), a growth-oriented company focused on managing the world’s largest corporate financials of BNB, and YZILabs Management Ltd. (“YZi Labs”) announced today that they have entered into a collaboration agreement, dated June 23, 2026.
Highlights of the collaboration agreement include:
– Board composition: The board has appointed Ella Zhang, Alex Odagiu And Matthew Roszak effective immediately as directors of the Company. The new directors join existing BNC board members Carly E. Howard, Annemarie Tierney and Glenn Tyranski. BNC and YZi Labs will jointly search for an additional independent director with extensive experience in digital assets, capital markets and the governance of listed companies.
– CEO Search and interim president: The Board of Directors will form a Chief Executive Officer Search Committee, with a focus on candidates with significant experience in publicly traded companies and digital assets. Alex Odagiu will join BNC’s executive team as interim president and report directly to the board of directors until at least the appointment of the new Chief Executive Officer. As previously announced, David Namdar will continue in his role as Chief Executive Officer during this transition period.
– Termination of the proxy contest: YZi Labs has agreed to terminate the consent request and withdraw related requests for books, records, and record dates. YZi Labs has also agreed to comply with other customary voting obligations and long-term standstill provisions.
“Today’s agreement between the Board of Directors and YZi Labs reflects the kind of constructive, forward-looking collaboration that creates real value for BNC and its shareholders,” said Carly E. Howard, chairman of the board of directors of CEA Industries. “Ella, Alex and Matt bring deep, directly relevant experience in the BNB ecosystem, digital asset investing, venture capital building and institutional capital markets, and we look forward to working with them and YZi Labs to support long-term shareholder value.”
“The next generation of digital asset treasuries will be defined not only by what they own, but also by how carefully they manage, allocate and build those assets,” says Ella Zhang, Managing Partner and Head of YZi Labs. “BNB is compelling because its value is tied to utility: it provides transaction fees, network participation, applications, liquidity and economic activity in one of the world’s most active blockchain ecosystems. For BNC, the opportunity is to translate that exposure into an institutional platform with transparency, discipline and alignment over the long term. That is the work we are eager to advance with BNC’s board.”
Incoming Interim President Alex Odagiu noted: “Joining BNC at this critical time for the future of the company and the BNB Chain is a welcome opportunity. BNB Chain is at the center of a rapidly growing digital economy that includes decentralized finance, payments, stablecoins, tokenized assets, AI-native applications and agentic finance, and BNC can serve as a public market vehicle for disciplined, transparent exposure to that ecosystem.”
The Board of Directors of BNC and YZi Labs believe that a reconstituted and expanded Board of Directors, a long-term commitment from our largest shareholder and founder of the BNB chain, and a transparent structure for selecting long-term executive leadership positions the company to better execute this vision and build a differentiated platform at the intersection of public capital markets and the future of finance.
The entire collaboration agreement will be filed with the SEC as an exhibit to the company’s Form 8-K and to YZi Labs’ Schedule 13D amendment.
About the new directors
Ella Zhang brings experience in business building, digital asset investing and global technology leadership experience to the Board of Directors. She is Managing Partner and Head of YZi Labs and was the Founder and Head of Binance Labs. Ms. Zhang is a graduate of Stanford GSB and a former investor in Kleiner Perkins. She has also held leadership positions at Google and Tencent and has first-hand experience building AI companies. Her background combines the daring discipline of Silicon Valley, insight into the Asian market and operational experience in emerging technology sectors.
Alex Odagiu brings experience in the BNB ecosystem, digital asset investing and institutional finance to the board. As an investment partner at YZi Labs, he helps lead token, equity and strategic investments and has worked closely with founders across the BNB Chain ecosystem, including through the Most Valuable Builder accelerator program. Earlier in his career, Mr. Odagiu worked in investment banking at Goldman Sachs International. He has an MA (Hons) in Economics and Mathematics from the University of St Andrews.
Matthew Roszak brings decades of experience in blockchain infrastructure, venture investing and digital asset policy to the board. He is Co-Founder and Chairman of Bloq, and Founding Partner of Tally Capital, which has backed leading blockchain and digital asset companies. He is also chairman of the advisory board of De Digitale Kamer. Mr. Roszak’s experience includes blockchain infrastructure, institutional adoption, digital asset policy, governance and early stage Web3 company building.
Annual shareholders meeting
The CEA Industries 2026 Annual Meeting of Shareholders will be held on July 22, 2026. Shareholders of record at the close of business on the record date determined by the Board of Directors will be entitled to be convened and vote at the Annual Meeting.
Additional information regarding the Annual Meeting, including the matters to be considered and voting procedures, will be provided in the Company’s proxy materials to be filed with the U.S. Securities and Exchange Commission.
About CEA Industries Inc.
CEA Industries Inc. (Nasdaq: BNC) is a growth-oriented company focused on building leading businesses in consumer markets, including building and managing the world’s largest corporate financials of BNB.
About YZi Labs
YZILabs Management Ltd. is a global investment firm managing more than $10 billion in assets and investing in Web3, AI and biotechnology. YZi Labs is committed to strategic, transparent and high-quality participation in the digital asset ecosystem, promoting best-in-class oversight, operational integrity and long-term shareholder alignment across all investment partnerships.
Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements.” The statements in this press release that are not purely historical are forward-looking statements that involve risks and uncertainties. BNC would like to caution readers that these forward-looking statements may be affected by the risks and uncertainties in BNC’s business, as well as other important factors that may have affected and may affect BNC’s actual results in the future and could cause BNC’s actual results for subsequent periods to differ materially from those expressed in any forward-looking statement made by or on behalf of BNC. In evaluating these forward-looking statements, readers should consider various risk factors, including BNC’s ability to keep pace with new technology and changing market needs; BNC’s ability to finance its current operations and proposed future operations, including the ability to finance the ongoing acquisition of BNB; the competitive environment of BNC’s operations; and the future value and adoption of BNB. Forward-looking statements are subject to numerous conditions and risks, many of which are beyond BNC’s control. In addition, these forward-looking statements and the information contained in this press release are qualified in their entirety by cautionary statements and risk factor disclosures contained in BNC’s filings with the SEC. Copies of BNC’s filings with the SEC are available on the SEC’s website at http://www.sec.gov. BNC undertakes no obligation to update these statements for revisions or changes after the date of this press release, except as required by law.
Contacts
CEA Industries Media Questions:
Nobleman Smithfield
[email protected]
CEA Industries Investor Relations:
[email protected]
YZi Labs media contact:
[email protected]
