Chaince Seeks Share Ceiling Hike Amid $300M Stock Offering

Chaince Digital Holdings, a cryptocurrency treasury firm, has proposed increasing its authorized ordinary shares from 1 billion to 20 billion. This decision will be made by shareholders on Monday.

The vote comes just days after Chaince established an at-the-market program allowing for up to $300 million in stock sales. The company may use the ATM proceeds for working capital and general corporate purposes, with a portion potentially allocated towards its Bitcoin reserve plan.

Proposal Three would create 19 billion additional authorized shares, giving the board wider options for future financing and capital management. Proposal Four would grant the board authority to conduct one or more reverse splits through August 24, 2025, allowing them to choose whether and when to use this authority.