CEA settles YZi dispute with board overhaul

• CEA Industries reached a cooperation agreement with YZi Labs, ending a proxy contest and reshaping the company's board.
• Ella Zhang, Alex Odagiu and Matthew Roszak joined the board immediately, bringing digital asset experience to the company.
• The agreement includes a CEO search process as CEA continues executing its BNB treasury strategy.

CEA Industries entered a cooperation agreement with YZi Labs that ended a proxy fight and resulted in the immediate appointment of three new directors to the company's board.

The agreement, effective June 23, adds YZi Labs Head Ella Zhang, YZi Labs Investment Partner Alex Odagiu and Bloq Co-founder Matthew Roszak to the board alongside existing directors Carly E. Howard, Annemarie Tierney and Glenn Tyranski.

“Today’s agreement between the Board and YZi Labs reflects the kind of constructive, forward-looking collaboration that creates real value for BNC and its stockholders,” said CEA Industries Chair Carly E. Howard.

YZi Labs agreed to withdraw its consent solicitation campaign, books and records demands and record date requests, while both parties committed to jointly identifying an additional independent director with expertise in digital assets, capital markets and public company governance.

The board will also establish a chief executive search committee, with Alex Odagiu appointed interim president during the process while current Chief Executive Officer David Namdar remains in place, and CEA shares closed up 8.35% at US$2.27 following the announcement.

The settlement follows months of governance disputes between the two parties, including YZi Labs' concerns regarding management oversight and execution of the company's BNB treasury strategy, as well as CEA's legal action against former treasury manager 10X Capital.

CEA, which describes itself as the largest publicly listed corporate holder of BNB (CRYPTO:BNB), raised US$500 million in a private placement during 2025 to build its BNB treasury strategy and later acquired 200,000 BNB valued at approximately US$160 million at the time of purchase.

At the time of reporting, BNB price was $577.58.