New York, Feb 23, 2026, 04:51 EST — Premarket
Signing Day Sports (SGN) shares jumped roughly 26% to $0.52 ahead of Monday’s open, coming off a prior close just shy of $0.41.
Friday’s filing from the NYSE American-listed firm spells out how it’s setting the exchange ratio in its stock-for-stock merger with BlockchAIn Digital Infrastructure. Essentially, it comes down to this: SGN shareholders will get BlockchAIn shares based on SGN’s last reported sale price before the deal closes, divided by 7.5. If that math spits out a fraction, it gets rounded up to the next whole BlockchAIn share. BlockchAIn does have the option to tweak the ratio to preserve ownership splits or satisfy NYSE American listing requirements, but according to the filing, SGN holders are guaranteed at least 8.5% of BlockchAIn’s fully diluted equity after the merger wraps up.
The timing is critical here: traders don’t know the final payoff until the window closes, so they’re left speculating about where SGN will land just ahead of the deal’s completion. Even a slight move in a stock trading under $1 can shift what investors actually get on paper.
Signing Day Sports runs a digital platform designed to connect student-athletes with college recruiters.
Crypto stocks slipped to start Monday, as bitcoin dropped roughly 2.6%. Shares of Riot Platforms, Marathon Digital, and Hut 8 traded lower in the premarket. SGN, though, bucked the trend, with the focus sticking to merger calculations.
Investors have to track SGN closely—because the exchange-ratio formula leaves it as a shifting part of this deal, not just something static. When the term “fully diluted” comes up, that’s referring to all shares, including those that could come from exercised in-the-money options or warrants.
The setup’s got a downside, too. Should SGN head toward a close, the ratio drops alongside—and approval hurdles remain.
Traders eye the premarket jump ahead of the regular session—will the gains stick once the bell rings, and does volume show up? When a deal’s conversion hinges on the stock price itself, thin liquidity tends to complicate things fast.
Eyes now turn to the March 13 special shareholder meeting, where the deal goes up for a vote. The company confirmed BlockchAIn will take the AIB ticker on the NYSE American if the merger closes. The SEC signed off on BlockchAIn’s Form S-4 registration statement January 30. “An important step toward completing what we believe is a transformational transaction for our stockholders,” said Signing Day Sports CEO Daniel Nelson after the S-4 cleared. Globenewswire
