FG Nexus shareholders approve 1 trillion share authorization (Yesterday)

FG Nexus (NASDAQ: FGNX, FGNXP) announced that shareholders approved a share authorization increase to 1 trillion shares through written consent, according to a company press release. The authorization consists of 900 billion common shares and 100 billion preferred shares.

The increase has not yet taken effect and will become effective no earlier than 20 calendar days after the information statement is delivered to stockholders and upon filing a certificate of amendment with the Nevada Secretary of State.

"This unprecedented number of authorized shares positions FG Nexus with the most flexible capital structure in the U.S. public markets," said Kyle Cerminara, Co-Founder, Chairman and CEO. "Our goal is clear: to systematically acquire ETH in a manner that directly increases ETH per share value for our shareholders while establishing FG Nexus as the dominant institutional holder of Ethereum globally."

The Charlotte, North Carolina-based company stated the authorization supports its strategy to become the largest corporate holder of ETH. FG Nexus plans to use the potential issuance of new shares to adapt to market opportunities and growth initiatives focused on increasing its Ethereum holdings.

"This historic authorization reflects our shareholders' confidence in our Ethereum-focused strategy," said Maja Vujinovic, CEO of Digital Assets at FG Nexus.

The company describes itself as focused on becoming the largest corporate holder of ETH and plans to stake and restake to enhance yield while serving as a gateway into Ethereum-powered finance, including tokenized real-world assets and stablecoin yield.

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