Chaince Digital Opens $300 Million ATM Eight Days After $16 Million Raise
Serial Equity Dilution
Company Background
Chaince Digital Holdings Inc. (Nasdaq: CD), formerly Mercurity Fintech Holding Inc., is a New York-headquartered digital finance company that describes its focus as tokenization, on-chain financial infrastructure, and regulated brokerage services. Its subsidiaries include Chaince Securities, LLC, a FINRA-registered broker-dealer, and AI/HPC infrastructure platforms. The company carries a market capitalization of roughly $380M.
In January 2026, the board voluntarily elected to convert from foreign private issuer status to domestic issuer, a change that brought the company under 10-K, 10-Q, and 8-K reporting obligations beginning with the fiscal year ended December 31, 2025. That same month, Singapore-based auditor OneStop Assurance PAC was dismissed after determining it could not continue to serve given that the company's principal executive offices are now in the United States; Tang Qian & Associates was appointed the following day with no disagreements or reportable events disclosed.
Chief Strategy Officer and board member Wilfred Daye resigned on June 3, 2026, in what the company characterized as a voluntary departure unrelated to any disagreement with management. An Annual General Meeting is scheduled for August 24, 2026, at which shareholders will vote on director elections, auditor ratification, an increase in authorized share capital, and authorization for potential reverse stock splits.
What Was Disclosed
On August 19, 2026, Chaince Digital entered into an At The Market Offering Agreement with H.C. Wainwright & Co., LLC, establishing a facility under which the company may sell up to $300,000,000 of its ordinary shares from time to time at prevailing market prices. H.C. Wainwright will receive a 3.0% commission on gross sales proceeds. The company retains the right to designate a maximum number of shares to be sold on any trading day and a minimum acceptable price, and it may suspend or terminate the arrangement with ten business days' notice. The company has no obligation to sell any shares under the agreement.