On October 22, 2026, fintech payment holding company Advasa Holdings, Inc. announced that its largest stockholder intends to surrender 97,413,140 shares of common stock. The proposed cancellation would reduce the company's outstanding common stock by approximately 20%.
Proposed Forfeiture Details
Advasa Holdings, Inc., a fintech payment holding company delivering Earned Wage Access solutions, reported that its largest stockholder, Mr. Asamitsu Kosugi, plans to surrender 97,413,140 shares of common stock to the company. According to the company, the shares will be surrendered without receiving cash, securities, or other consideration.
The cancellation of these shares is projected to reduce Advasa's outstanding common stock by approximately 20%, assuming no other changes in the share count. Following completion, the surrendered shares will cease to be outstanding.
Conditions and Next Steps
The proposed forfeiture and cancellation have not yet been finalized. Advasa stated that completion remains subject to finalization of required documentation, necessary corporate approvals, and applicable transfer agent procedures.
The company noted that there is no assurance regarding the timing or final completion of the proposed transaction.
Key facts and where they come from
- Mr. Asamitsu Kosugi intends to surrender 97,413,140 shares of common stock to Advasa for no consideration.
Mr. Asamitsu Kosugi, the Company’s largest stockholder, has expressed his intention to surrender to the Company, for no consideration, 97,413,140
- The proposed cancellation is expected to reduce the company's outstanding common stock by approximately 20%.
reduce the Company’s outstanding common stock by approximately 20%
- The transaction remains subject to documentation finalization, corporate approvals, and transfer agent procedures.
Completion remains subject to finalization of the required documentation, any necessary corporate approvals and completion of the applicable transfer agent procedures.