Overview
- The cooperation agreement dated June 23, 2026, ends YZi Labs' consent solicitation and withdraws related demands, resolving a months-long proxy contest.
- Ella Zhang, Alex Odagiu, and Matthew Roszak were appointed to BNC’s board immediately and Alex Odagiu will serve as Interim President during the transition.
- The board formed a CEO Search Committee focused on candidates with public-company and digital-asset experience while current CEO David Namdar will remain in place during the search.
- YZi Labs agreed to customary long-term voting commitments and standstill provisions and the full agreement will be filed with the SEC as exhibits to BNC’s Form 8‑K and YZi Labs’ Schedule 13D amendment.
- The deal formalizes a strategic pivot toward running BNC as a public vehicle for BNB exposure, a shift that could alter investor demand for the stock and make upcoming disclosures and the July 22, 2026 annual meeting key milestones to watch.