Crypto treasury firm seeks 20B share ceiling and reverse splits after launching $300M stock offering

Shareholders of Chaince Digital Holdings, a crypto treasury firm, will decide Monday whether to increase the company’s authorized ordinary shares from 1 billion to 20 billion and give its board broad reverse-split authority. The vote comes days after Chaince established an at-the-market program allowing up to $300 million of stock sales.Approval would give the board substantially wider options for future financing and capital management. Actual share issuance and any reverse split would remain subject to later company action, making Monday’s decision a vote on the scale of that authority.The authority shareholders are weighingProposal Three would create 19 billion additional authorized shares, raising the ceiling to 20 billion, according to the company’s annual-meeting proxy. Authorized shares set the maximum available for issuance under the company’s governing documents; outstanding shares reflect stock already issued.Proposal Four would let the board conduct one or more reverse splits through the third anniversary of the Aug. 24 meeting. Each split could range from 2-for-1 to 200-for-1, with the cumulative ratio across all splits under the authority capped at 4,000-for-1. The boa...