Chaince Seeks 20B Share Ceiling in Bid to Manage Crypto Treasury

Chaince Digital Holdings, a crypto treasury firm, is asking its shareholders to increase the company's authorized ordinary shares from 1 billion to 20 billion. The vote, set for Monday, would give the board of directors broader authority to manage future financing and capital. If approved, Chaince could issue up to 19 billion new shares in addition to the existing 1 billion, depending on the company's needs.

The proposed increase is part of a larger effort by Chaince to raise additional funds through its at-the-market program, which allows for up to $300 million in stock sales. The board would have the option to conduct one or more reverse splits if necessary, with each split ranging from 2-for-1 to 200-for-1.

Shareholders will be voting on two proposals: Proposal Three, which would set the maximum available shares at 20 billion, and Proposal Four, which would grant the board authority to conduct one or more reverse splits. Both proposals require a simple majority vote to pass.