Chaince Seeks 20B Share Ceiling Amid $300M Stock Offering

Chaince Digital Holdings, a crypto treasury firm, is seeking to increase its authorized ordinary shares from 1 billion to 20 billion and grant its board authority for reverse splits. The proposal will be put to shareholders on Monday, who will also vote on the company's $300 million stock offering through an at-the-market program.

The company has established a program allowing up to $300 million of stock sales through H.C. Wainwright as agent or principal. If approved, the increased share ceiling would give the board wider options for future financing and capital management.

The prospectus supplement assumes 85,227,272 shares sold at $3.52, which would bring the total to around 195,231,072 shares, while actual issuance will depend on future sales under the program.