Advasa Holdings, Inc. (Nasdaq: ADBT) issued a press release on September 9, 2026, to clarify details regarding its direct listing, the status of registered resale shares, the ownership of its largest shareholder, and recent management changes.
The company clarified that its direct listing on the Nasdaq Global Market, which began on August 25, 2026, was not an underwritten offering. Advasa did not issue or sell any new shares during the listing process and did not receive any proceeds from the event.
The filing addresses the resale prospectus, which relates to up to 94,046,357 shares of common stock held by existing stockholders. The company emphasized that these are existing shares, not newly issued ones, and that it will not receive any proceeds from sales by these registered stockholders. The registration itself permits potential future sales under securities laws but does not obligate any shareholder to sell.
Regarding the largest shareholder, Mr. Asamitsu Kosugi, the company confirmed that he beneficially owns 232,638,232 shares, representing approximately 47.76% of the outstanding common stock as of August 18, 2026. Advasa stated that from the commencement of trading on August 25, 2026, through September 9, 2026, Mr. Kosugi has sold no shares in open-market or private transactions. Additionally, none of his shares are pledged as collateral, and he has not entered into any hedging or securities lending arrangements.
In terms of corporate structure, the company reported 487,065,702 shares of common stock issued and outstanding as of August 12, 2026, consistent with the count from the previous quarter. The company also noted that the resale registration does not increase the number of shares outstanding.
On the management front, Katharyn Field resigned as Chief Financial Officer on August 27, 2026, citing personal reasons. Chief Executive Officer Grady Ryther is currently serving as interim CFO while the company searches for a permanent successor.
Separately, Advasa highlighted its business operations, noting that its FUKUPE platform is live in Japan and preparing for launches in Indonesia and the United Arab Emirates. The company also announced that its ADVASA Visa card now supports USDC payments alongside fiat currency and plans to explore real-world asset tokenization opportunities.
