Advasa Holdings, Inc. (Nasdaq: ADBT) announced on October 22, 2026, that Mr. Asamitsu Kosugi, the Company’s largest stockholder, has expressed his intention to surrender 97,413,140 shares of the Company’s common stock to the Company without receiving any cash, securities, or other consideration.
The proposed forfeiture represents approximately 20% of the Company’s total outstanding common stock as of the date of the report. Following the completion of the surrender and cancellation, these shares will cease to be outstanding, which would reduce the Company’s outstanding common stock by approximately 20% assuming no other changes in the number of outstanding shares.
The proposed forfeiture and cancellation have not been completed. Completion remains subject to the finalization of required documentation, any necessary corporate approvals, and the completion of applicable transfer agent procedures. There is no assurance as to the timing or completion of the proposed transaction.
