Corporate ActionAug 6, 2026, 04:30 PM
BIT ORIGIN Proposes 5-for-1 Reverse Split, Massive Share Capital Increase
AI Summary
BIT ORIGIN Ltd. will hold an Extraordinary General Meeting on August 11, 2026, to vote on several key proposals. These include a 5-for-1 reverse stock split aimed at maintaining Nasdaq listing, a significant increase in authorized share capital from US$15,000 to US$60,000,000, and a change of the company name to "SANGRIX INC." The company previously executed a 60-for-1 reverse split in January 2026 and faces immediate delisting if it fails to meet Nasdaq's minimum bid price requirement.
Key Highlights
- Shareholders to vote on a 5-for-1 reverse stock split to maintain Nasdaq listing.
- Company proposes to increase authorized share capital from $15,000 to $60,000,000.
- Authorized Class A shares to increase from 237,500,000 to 950,000,000,000.
- Authorized Class B shares to increase from 12,500,000 to 50,000,000,000.
- Proposed company name change from "BIT ORIGIN LTD" to "SANGRIX INC."
- Extraordinary General Meeting scheduled for August 11, 2026.
- Company had a 60-for-1 reverse split on January 20, 2026.
Price Impact
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