AVAX One Announces Significant Balance Sheet Progress In Third Quarter 2026

Debt reduction combined cash repayments with exchanges into common shares, rather than relying solely on cash.

Rhea-AI Summary

AVAX One Technology (NASDAQ: AVX) eliminated more than $14.9 million of debt during the third quarter of 2026.

Approximately $7.1 million of convertible debentures, debt exchangeable for shares, were converted into common shares. The company repaid approximately $7.4 million of debt, and another $0.4 million was redeemed into common shares. Convertible debt remaining was approximately $970,000 as of September 30, 2026. Share repurchases during the quarter totaled 333,500, adjusted for the one-for-twelve reverse stock split effected on June 15, 2026. The conversions reduced debt while issuing common shares.

4 points · 2 major

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Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

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1 major · 3 points

How the balance works

Positive

• Major pointDebt repayments reduced obligations by approximately $7.4 million during the third quarter of 2026. 17% of market cap
• Major pointConvertible debenture conversions removed approximately $7.1 million of debt during the third quarter of 2026. 16% of market cap
• Minor pointDebt redeemed into common shares removed $0.4 million of obligations during the third quarter of 2026.
• Minor pointShare repurchases totaled 333,500 during the third quarter of 2026, adjusted for the reverse split.

Negative

• Major pointApproximately $7.1 million of convertible debentures converted into common shares, diluting existing holders. 16% of market cap
• Minor point$0.4 million of debt redeemed into common shares also diluted existing holders.
• Minor pointRemaining convertible debt was approximately $970,000 as of September 30, 2026.

News Explained

For the third quarter, AVAX One reported approximately 9,987,248 million common shares outstanding on September 30, versus 7,363,270 million on June 30; the higher reported share count means existing holders with unchanged holdings own a smaller proportion of the company.

Key Figures

Debt eliminated: More than $14.9 million Convertible debentures converted: Approximately $7.1 million Debt repaid: Approximately $7.4 million +3 more

Debt eliminated

More than $14.9 million

Q3 2026

Convertible debentures converted

Approximately $7.1 million

Converted into common shares during Q3 2026

Debt repaid

Approximately $7.4 million

Q3 2026

Debt redeemed into shares

$0.4 million

Q3 2026

Convertible debt balance

Approximately $970,000

As of September 30, 2026

Shares repurchased

333,500 shares

During Q3 2026; adjusted for the reverse stock split

Historical Context

1 past event · Latest: Aug 05

1 event

1. Aug 05

   Debt restructuring

   24h Move

   +1.0%

   Earlier restructuring reduced principal on selected convertible debentures by approximately $6.8 million.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

convertible debentures, reverse stock split

2 terms

convertible debentures financial

"approximately $7.1 million of convertible debentures were converted into common shares"

Convertible debentures are loans a company issues that pay interest like a bond but can be swapped later for the company’s shares at a set price. For investors they act like a safety-net plus a shortcut: you get regular interest payments while retaining the option to join ownership if the share price rises, which offers upside potential but can dilute existing shareholders if conversion occurs.

reverse stock split financial

"one-for-twelve reverse stock split effected on June 15, 2026"

A reverse stock split reduces a company's number of outstanding shares while raising the price per share proportionally, so the total value of each investor's holding is unchanged; a 1-for-10 split turns 100 shares worth $1 each into 10 shares worth $10 each. Companies often do this to regain compliance with an exchange's minimum price rule or to attract investors who avoid very low-priced stocks.

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Eliminated More Than $14.9 Million of Debt, Further Strengthening Capital Structure and Liquidity

WEST PALM BEACH, FL, Oct. 07, 2026 (GLOBE NEWSWIRE) -- AVAX One Technology Ltd. (NASDAQ: AVX) (“AVAX One” or the “Company”), today announced significant progress on strengthening its balance sheet during the third quarter of 2026, including a material reduction in near-term convertible debt and continued share repurchases during the quarter of 333,500 (as adjusted to reflect the Company’s one-for-twelve reverse stock split effected on June 15, 2026).

During the third quarter of 2026, approximately $7.1 million of convertible debentures were converted into common shares, approximately $7.4 million of debt was repaid by the Company and $0.4 million of debt was redeemed into common shares. As a result of these conversions, AVAX One has reduced its convertible debt balance to approximately $970,000 as of September 30, 2026, strengthening its balance sheet and enhancing financial flexibility and liquidity.

“Q3 marked another period of strong progress for AVAX One, highlighted by a significant reduction in our outstanding convertible debt and continued execution under our share repurchase program,” said Pete Wylie, Interim Chief Executive Officer and Chief Operating Officer of AVAX One. “Over the past several months, we have simplified our balance sheet, preserved financial flexibility and allocated capital where we believe it can generate the greatest value for shareholders. With a stronger financial foundation in place, we believe we are well positioned to execute on our growth and profitability initiatives as we enter the next phase of our digital asset treasury strategy.”

As of September 30, 2026, AVAX One had approximately 9,987,248 million common shares outstanding, compared with approximately 7,363,270 million as of June 30, 2026.

About AVAX One Technology Ltd.

AVAX One Technology Ltd. (NASDAQ: AVX) is a digital infrastructure company accelerating the transition to an onchain financial economy. The Company maintains a strategic Avalanche digital asset treasury, accumulating AVAX and generating onchain yield through native staking and ecosystem participation. It also operates bitcoin mining facilities and develops modular data centers. These three pillars give public market investors unique exposure to both the onchain economy and the digital infrastructure layer. For more information, please visit www.avax-one.com.

Forward Looking Statements

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements can generally be identified by the use of words such as “anticipate,” “expect,” “intend,” “plan,” “could,” “may,” “will,” “would,” “believe,” “estimate,” “target,” “project,” and other words of similar meaning. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others: risks relating to the Company’s operations and business, including the highly volatile nature of the price of Bitcoin, AVAX, and other digital assets, and the risk that the price of the Company’s securities may be highly correlated to the price of the digital assets it holds; plans to repurchase the Company’s common shares and the timing and amount of any such repurchases; increased competition in the data center, AI/HPC, and digital asset industries; and legal, commercial, regulatory, and technical uncertainties affecting the Company’s business, as well as those risks and uncertainties identified in the Company’s filings with the U.S. Securities and Exchange Commission. Actual results could differ materially from anticipated or preliminary results or estimates. The forward-looking statements in this press release speak only as of the date of this document, and the Company undertakes no obligation to update or revise any of these statements, whether as a result of new information, future events, or otherwise.

Investor Relations Contact
Sean Mansouri, CFA or Aaron D’Souza
Elevate IR
(720) 330-2829
AVX@elevate-ir.com

Media Contact
Ethan Lyle
Prospero
avax-one@prospero.agency

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much debt did AVAX One eliminate in the third quarter of 2026?

AVAX One eliminated more than $14.9 million of debt during the third quarter of 2026. Approximately $7.1 million of convertible debentures converted into common shares, approximately $7.4 million of debt was repaid, and $0.4 million of debt was redeemed into common shares.

How much convertible debt did AVAX One have remaining at September 30, 2026?

AVAX One had approximately $970,000 of convertible debt remaining as of September 30, 2026.