On March 26, 2026, CEA Industries Inc. (NASDAQ: BNC) announced an update regarding its ongoing efforts to renegotiate the Asset Management Agreement (AMA) with 10X Capital Asset Management LLC. The company’s Board of Directors has been actively engaged in discussions with 10X to amend the terms of the AMA, which was originally executed in August 2025. The proposed amendments aim to align the agreement with market practices and improve key provisions, including a reduction in management fees from 1.75% to 0.50% of the Company’s treasury asset NAV, a decrease in the term of the agreement from 20 years to 2 years, and a reduction in fees payable in the event of termination without cause. Despite these efforts, 10X has not provided a comprehensive counterproposal or meaningful concessions, leading the Board to express concerns about the lack of constructive engagement from 10X. The Board remains committed to pursuing all avenues to reform the agreement and enhance value for stockholders.

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