New York, June 3, 2026, 04:17 EDT
Solowin Holdings shares fell on Nasdaq in the last U.S. session and stayed in the red after hours, with the Hong Kong fintech reporting a $6 million funding deal from Streeterville Capital. The loan can be repaid in cash or by issuing new Class A shares. AXG finished Tuesday at $3.45, down 0.86%, and was quoted at $3.40 after hours on Google Finance. A June 2 filing put the principal on the financing at $6.48 million with an 8% annual interest rate.
The timing is key. Nasdaq’s pre-market in New York was already open ahead of the standard 9:30 a.m. to 4 p.m. session. June 3 isn’t on Nasdaq’s list of 2026 exchange holidays.
Solowin’s funding setup drew new attention with the filing. The company labeled the security “Pre-Paid Purchase #2,” which hands Solowin cash up front in exchange for a future duty to repay or deliver shares. The principal stands at $6.48 million, factoring in a $480,000 original issue discount—so Solowin gets less cash upfront than what it will owe down the line.
Share terms could pinch holders. If Solowin skips a monthly amortization payment, Streeterville can make Solowin issue stock at 85% of either the previous close or the 10-day VWAP. That VWAP price weights trades by volume. Streeterville can’t own more than 9.99% of Solowin, but the filing flags dilution risk.
Solowin’s June filing came after a broader deal in February, in which the company said Streeterville might supply up to $100 million. Solowin said then the funding was aimed at stablecoin and asset-tokenization projects, AI and blockchain security research, and to help it expand globally.
Digital-asset infrastructure is now at the center of that growth pitch. Last week, Solowin’s AX Coin said it entered a non-binding MOU with Bahrain’s BENEFIT, the nation’s payments clearing hub, to look into stablecoin applications. Stablecoins are digital tokens that aim to keep a fixed value, typically pegged to a currency like the dollar. “A defining step,” said Xavier George, managing director of AlloyX and CEO of AX Coin, about the agreement. BENEFIT Chief Executive Abdulwahed AlJanahi also called it “an important step.” GlobeNewswire
Solowin’s April update showed a big revenue jump but also more losses and higher cash outflows. The company said it expects fiscal 2026 revenue to climb almost tenfold to $27 million-$29 million, based on preliminary, unaudited numbers. Net loss came in at $11 million-$13 million. Operating cash outflow was $12 million-$14 million. CEO Lok Ling Ngai said fiscal 2026 is “a transformative year,” adding the surge “validates” Solowin’s dual-token strategy. Solowin Holdings
AXG fell even as U.S. stocks traded firmer. Wall Street closed a little higher Tuesday, with AI optimism helping make up for concerns over the Middle East, Reuters said. The Nasdaq ticked up. Solowin’s slide stood out as more about the company than the wider index.
The peer set is hard to read right now. Futu Holdings and UP Fintech are both facing tighter rules. Reuters said this week that Tiger Brokers, the UP Fintech brand, will block mainland China users from adding new positions starting June 12 after local regulators issued new rules. Futu, according to Reuters, has curbed new deposits and new buying for mainland accounts as well.
Solowin is no longer using the SWIN ticker. The company said last October its Class A shares will start trading as AXG on Oct. 10, 2025, linking the new symbol to its move into Web3, AlloyX, and AX Coin.
The bear case is clear. If Solowin runs through cash and misses amortization payments, its financing could switch to discounted share sales. That adds dilution risk while investors still wait to find out if tentative stablecoin deals bring in revenue, and whether audited yearly results line up with the company’s early numbers.
