Solowin Holdings drops 13% in premarket on 1-for-200 reverse split

Solowin Holdings (AXG.US) fell nearly 13% in premarket trading to a record low of $0.0350.

The company announced a 1-for-200 reverse stock split to meet Nasdaq's minimum $1 bid price requirement, with the consolidation effective Oct. 26. Solowin warned that there is no guarantee regarding the post-split share price; the stock has declined more than 98% since August.

Separately, 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.

Based on public media reports. AI-generated; not investment advice.