Solana treasury firm cuts shares 700-for-1 but leaves room for nearly 100 billion more
SOLAI Limited, formerly BIT Mining, said shareholders approved a major capital reset: the company now has 100 billion authorized Class A ordinary shares after a 700-for-1 share consolidation. The vote came about a month after the NYSE suspended trading in its ADSs for falling below the exchange’s market-cap minimum and later moved toward delisting. At the Aug. 14 meeting, holders first approved a temporary increase in authorized shares to 70 trillion pre-consolidation shares, then approved the 700-for-1 consolidation, which reduced the post-consolidation authorization to 100 billion shares. The company did not disclose a specific financing, acquisition, or compensation plan for the expanded authorization. SOLAI had previously reported 1.92 billion Class A shares outstanding as of March 31 and another 1.16 billion issued on June 2 as acquisition consideration. The company’s OTC-traded ADR remained listed as active in Deutsche Bank records under SLAIY.
