Signing Day Sports (SGN) shares surged 4.79% during after-hours trading following regulatory approval of its merger with Blockchain Digital Infrastructure. The Securities and Exchange Commission has declared the merger registration statement effective, clearing a major procedural milestone for the all-equity transaction, which is valued at approximately $215 million.
Stockholders are scheduled to vote on the proposed combination at a special meeting on March 13. The deal represents a significant corporate restructuring, with the merged entity expected to commence trading on NYSE American under the ticker symbol AIB upon completion.
The SEC's approval of the registration statement removes a key regulatory barrier and allows the transaction to advance toward shareholder ratification. The timing of the shareholder vote positions the deal for potential closure in the coming weeks if approved by the required voting threshold.