FG Nexus (NASDAQ: FGNX) today announced that its Certificate of Amendment to its amended and restated articles of incorporation has been declared effective by the Nevada Secretary of State on October 7.
The amended articles of incorporation increase FG Nexus’ authorized shares to one trillion shares of capital stock, consisting of 900 billion shares of common stock and 100 billion shares of preferred stock. The historic share authorization was previously approved by majority of the Company’s shareholders by written consent.
"The accepted amendment provides our team with maximum flexibility to increase ETH per share and deliver long-term shareholder value,” said CEO Kyle Cerminara.
This morning’s news release said FG Nexus, based out of Charlotte, North Carolina, “is on the Ethereum Standard, and singularly focused on becoming the largest corporate holder of ETH in the world by an order of magnitude. In order to enhance our ETH YIELD, the Company will stake and intends to implement other yield strategies while serving as a strategic gateway into Ethereum-powered finance, including tokenized RWAs and stablecoin yield.”
Last week, Nexus and Securitize entered into an agreement to implement a program to allow shareholders to elect to natively tokenize the Company’s common and preferred stock on the Ethereum blockchain. FG Nexus is among the first NASDAQ-listed companies to offer shareholders the choice to tokenize its shares on Ethereum.
Soon after Wednesday’s open, FGNX shares lost 15 cents, or 2.6%, to $5.70.
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