WILMINGTON, DELAWARE, Oct. 26, 2026 (GLOBE NEWSWIRE) -- CID HoldCo, Inc., doing business as Dot Ai (Nasdaq: DAIC) (“Dot Ai” or the “Company”), today announced the appointment of Avi Cohen to its Board of Directors. Cohen brings extensive experience leading technology companies through acquisitions, integration and expansion as Dot Ai enters its next phase of growth following the recent $65 million acquisition of its wholly owned subsidiary, Envoy Technologies.

As CEO of RR Media, Cohen oversaw a period of growth that included record annual revenue of $140.3 million in 2015, followed by the company's acquisition by SES S.A. in 2016 in a transaction valued at $242 million. He subsequently became CEO of MX1, the business formed through the combination of RR Media and SES Platform Services. His earlier career includes executive leadership positions at Orbit Technologies, KLA Corporation and ECI Telecom.

Cohen's board experience spans semiconductor technology, investigative analytics and corporate investment strategy, with roles at Nasdaq-listed Nova (NVMI), Cognyte Software (CGNT) and ZOOZ Strategy (ZOOZ). His involvement across these businesses brings a perspective shaped by different technology markets and business models.

“Avi brings experience that is particularly relevant to where we are today,” said Shmulik Yannay, CEO of Envoy Technologies. “He's led a company through a significant acquisition and gone on to run the combined business. As Envoy enters this next chapter under Dot Ai, that firsthand understanding of how to bring businesses together and build on their strengths is extremely valuable.”

“Dot Ai has an opportunity to build on Envoy's established business, its property relationships and the technology supporting its operations,” said Avi Cohen. “I see potential to expand that foundation while exploring opportunities across Dot Ai's broader technology portfolio. I'm looking forward to working with the Board and management team to help turn those opportunities into sustainable growth.”

Dot Ai (Nasdaq: DAIC) completed its approximately $65 million all-stock acquisition of Envoy Technologies in October 2026. Envoy provides on-site electric vehicle car-sharing services to residential communities, hotels and resorts across the United States.

About Envoy Technologies

Envoy provides on-site electric vehicle car-sharing services for residential communities, hotels, resorts and campus properties. Through the Envoy app, residents and guests can reserve shared electric vehicles by the hour or day, while Envoy manages insurance, maintenance and day-to-day operations. The service gives residents convenient access to electric transportation without the costs of individual vehicle ownership and offers property owners an additional amenity without the responsibility of managing vehicles.

Headquartered in Culver City, California, Envoy is a wholly owned subsidiary of Dot Ai (Nasdaq: DAIC).

For more information, visit https://www.envoythere.com .

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts, including statements regarding the anticipated benefits of the acquisition of Envoy, including, for example, the expected expansion of the Company’s commercial operations and market presence; opportunities to introduce and integrate Dot Ai’s asset-intelligence technology into Envoy’s existing platform and operations; the potential expansion of Envoy’s electric vehicle carsharing business into additional residential, hospitality, campus and international markets; anticipated revenue opportunities and future growth; the Company’s ability to successfully integrate Envoy’s business and operations; the Company’s belief regarding its stockholders’ equity and its ability to regain and maintain compliance with applicable Nasdaq listing requirements; the Company’s ability to obtain the required stockholder approval in connection with the transaction and the anticipated conversions of the Series C preferred stock and Envoy convertible note; and the Company’s ability to support Envoy’s operations and expansion. All forward-looking statements are based on Dot Ai’s current expectations and beliefs concerning future developments and their potential effects on the Company. Forward-looking statements are subject to risks and uncertainties — including the risk that required stockholder, Nasdaq, or regulatory approvals may not be obtained, that Nasdaq may not accept the Company’s evidence of compliance with the stockholders’ equity requirement, that the Company may not successfully integrate Envoy’s operations, that anticipated benefits and synergies of the acquisition may not be realized, that additional financing may not be available on acceptable terms or at all, and that the Company may be unable to regain or maintain compliance with applicable Nasdaq listing requirements — that could cause actual results to differ materially from those expressed in the forward-looking statements. Readers are cautioned not to put undue reliance on forward-looking statements, and Dot Ai assumes no obligation to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

Important Information for Stockholders

In connection with the proposed transactions, the Company intends to file a proxy statement with the SEC. The Company also plans to file other documents with the SEC regarding the proposed transactions. After the proxy statement has been cleared by the SEC, a definitive proxy statement will be filed with the SEC and mailed to the stockholders of record of the Company. The Board will set the record date prior to mailing the definitive proxy statement. STOCKHOLDERS OF THE COMPANY ARE URGED TO CAREFULLY READ THE PROXY STATEMENT (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS THERETO) AND OTHER DOCUMENTS RELATING TO THE PROPOSED TRANSACTIONS THAT WILL BE FILED WITH THE SEC IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTIONS. Stockholders will be able to obtain free copies of the proxy statement and other documents containing important information about the Company once such documents are filed with the SEC, through the website maintained by the SEC at http://www.sec.gov .

Participants in the Solicitation

The Company and its executive officers, directors, other members of management and employees may be deemed, under SEC rules, to be participants in the solicitation of proxies from the Company’s stockholders with respect to the proposed transactions. Information regarding the executive officers and directors of the Company is set forth in the Company’s definitive proxy statement for the Company’s 2026 annual meeting of stockholders filed with the SEC on April 17, 2026 and in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025 filed with the SEC on March 11, 2026. More detailed information regarding the identity of potential participants, and their direct or indirect interests, by securities holdings or otherwise, will be set forth in the proxy statement and other materials to be filed with the SEC in connection with the transactions contemplated by the Purchase Agreement.

No Offer or Solicitation

This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed transactions and shall not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act.

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Contact:
DAIC
Charles Maddox, CFO
[email protected]