Corporate ActionJun 25, 2026, 06:07 AM
Advasa Holdings to Direct List 94M Shares on Nasdaq
AI Summary
Advasa Holdings, Inc. filed an S-1/A registration statement for the direct listing of up to 94,053,107 shares of its common stock on the Nasdaq Global Market under the symbol "ADBT". The company, a financial technology and services provider focused on Earned Wage Access (EWA) through its FUKUPE platform, will not receive any proceeds from the resale of shares by existing stockholders. The filing also noted a 10-for-1 forward stock split effective December 4, 2025, and reported increased revenue but decreased net income and negative operating cash flow for the year ended March 31, 2026.
Key Highlights
- Advasa Holdings to direct list 94,053,107 shares of common stock on Nasdaq Global Market under "ADBT".
- The direct listing is not underwritten, with no proceeds to the company from shareholder resales.
- A 10-for-1 forward stock split was effective on December 4, 2025.
- Revenue for the year ended March 31, 2026, was $17,366,000, up from $10,044,000 in 2025.
- Net income for the year ended March 31, 2026, was $954,000, down from $1,179,000 in 2025.
- Cash flow used in operating activities was $(1,395,000) in 2026, compared to $4,723,000 provided in 2025.
- The company operates the FUKUPE Earned Wage Access (EWA) platform, with 9 issued patents.
- Advasa Holdings is an emerging growth company and a smaller reporting company.
Price Impact
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