New York, Feb 23, 2026, 04:51 EST — Premarket
Shares of Signing Day Sports (SGN) rose about 26% to $0.52 in premarket trading on Monday, after ending the last session near $0.41.
In a filing on Friday, the NYSE American-listed company detailed how it will set the exchange ratio for its planned stock-for-stock merger with BlockchAIn Digital Infrastructure — in plain terms, how many BlockchAIn shares SGN holders get. The ratio will use SGN’s last reported sale price on the final trading day before the deal closes, divided by 7.5, with any resulting fractional BlockchAIn shares rounded up. BlockchAIn can adjust the ratio to keep ownership proportions and meet NYSE American listing rules, but SGN holders must receive at least 8.5% of BlockchAIn’s shares on a fully diluted basis after closing, the filing said.
That matters now because the payoff is not fixed until the closing window, leaving traders to guess where SGN will trade right before the deal is done. A small swing in a sub-$1 stock can move the implied value of the paper investors receive.
Signing Day Sports says it operates a digital platform aimed at helping student-athletes get discovered and recruited by colleges. (SEC)
Crypto-linked names were softer early Monday, with bitcoin down about 2.6% and miners Riot Platforms, Marathon Digital and Hut 8 also lower in premarket trading. SGN moved the other way as attention stayed on the merger math.
For investors, the exchange-ratio formula makes SGN a moving piece of the transaction, not just a passive target. “Fully diluted” means counting shares that could be created if in-the-money options or warrants are exercised.
But the setup cuts both ways. If SGN slides into closing, the ratio would shrink with it, and the deal still needs approvals to clear.
With the regular session yet to start, traders will watch whether the premarket pop holds into the open and whether volume follows. A deal where the conversion depends on the stock’s own trading price can get messy when liquidity is thin.
The next clear catalyst is a March 13 special shareholder meeting on the transaction; the company said BlockchAIn is expected to trade on the NYSE American under the symbol AIB after completion. BlockchAIn’s Form S-4 — the registration statement used to register shares issued in a merger — was declared effective by the SEC on Jan. 30. Signing Day Sports CEO Daniel Nelson called the Form S-4’s effectiveness “an important step toward completing what we believe is a transformational transaction for our stockholders.” (Globenewswire)
