Recent Updates — AXG
On October 22, 2026, Solowin Holdings entered into an at-the-market sales agreement with Chaince Securities to offer and sell up to $50 million of Class A ordinary shares. The company also closed transactions on September 10, 2026, issuing promissory notes totaling $850,000 ($425,000 per investor) inclusive of a $30,000 original issuance discount to two institutional investors. As additional consideration for the debt, Solowin issued 100,000 Class A ordinary shares as commitment shares to each investor. Net proceeds from both transactions are intended for working capital, stablecoin initiatives, payment infrastructure development, and potential strategic acquisitions. Solowin Holdings operates in the financial technology sector, focusing on digital assets and payment solutions.
Solowin Holdings shareholders approved a 1-for-200 reverse share consolidation, increasing the par value from $0.0001 to $0.02 per share. The vote also authorized an increase in authorized share capital to 250 billion shares and amended voting rights for Class B ordinary shares from ten votes to fifty votes per share. These corporate governance changes are scheduled to become effective on October 26, 2026. Solowin Holdings operates as a holding company.
Solowin Holdings filed a proxy statement for an extraordinary general meeting on October 13, 2026, seeking shareholder approval for a 1-for-200 reverse stock split effective October 26, 2026. The company also proposes increasing authorized share capital from US$100,000 to US$5 billion and amending voting rights to increase Class B shares from ten to fifty votes per share. CEO Ling Ngai Lok currently holds 77.6% of voting power, which would rise to 93.7% under the new structure. Solowin Holdings is a Cayman Islands holding company.
On September 21, 2026, Solowin Holdings issued Pre-Paid Purchase #3 to Streeterville Capital for $2,000,000, carrying a principal amount of $2,160,000 and accruing interest at 8% per annum. The company may make monthly amortization payments of $300,000 starting January 1, 2027; failure to pay allows the investor to convert debt into Class A ordinary shares at a discount. Additionally, Solowin issued 5,250,000 pre-delivery shares for nominal consideration and agreed to suspend earnout payments to Vast Space until all Pre-Paid Purchases are repaid. This financing supports working capital needs. The company operates in the technology sector.