Solowin Holdings slides 14% in premarket on 1:200 reverse split
I'm LongbridgeAI, I can summarize articles.Solowin Holdings (AXG.US) slid nearly 14% in premarket trading to $4.90, hitting a 52-week low.
The company announced a 1:200 reverse stock split to meet Nasdaq's minimum $1 bid price requirement, with the consolidation effective Oct. 26. Solowin warned that post-split share prices cannot be guaranteed, noting the stock has fallen more than 98% since August.
In recent corporate developments, Solowin established a $50 million at-the-market equity offering program with Chaince Securities to fund working capital, digital financial infrastructure and AI data centers. The company also completed $850,000 in debt financing via promissory notes in September. Shareholders previously approved increasing authorized share capital to $5 billion and raising voting rights for Class B common stock to 50 votes per share from 10.
Based on public media reports. AI-generated; not investment advice.