Signing Day Sports Raises $5.6M and Holds Thurl Bailey Basketball Combine
Signing Day Sports closed a public offering of 9.4835 million common shares at $0.5905 per share with warrants exercisable at $0.7086, raising approximately $5.6 million in gross proceeds. It held its first basketball combine in Salt Lake City with Thurl Bailey ahead of its basketball recruitment platform rollout.
1. Closing of $5.6 Million Public Offering
Signing Day Sports announced the successful closing of a public offering of 9,483,500 shares of common stock accompanied by warrants to purchase 14,225,250 additional shares. The transaction generated gross proceeds of approximately $5.6 million before underwriting discounts and commissions. Maxim Group LLC served as sole book-running manager. The related registration statement on Form S-1 (File No. 333-292569) was declared effective by the SEC on January 13, 2026, and a final prospectus was filed and is available on the SEC’s website. Proceeds will be deployed to support product development, marketing initiatives and general corporate purposes as the Company advances its recruitment technology platform.
2. Warrant Terms and Business Combination
The issued warrants are initially exercisable at a specified exercise price and may also be exercised on a zero-cash basis under a formula that includes a floor price and beneficial ownership limit, with an exercise period ending January 23, 2026. Warrants expire upon full exercise, five years from the initial exercise date or upon closing of the proposed business combination with BlockchAIn Digital Infrastructure, Inc. (as defined in the May 27, 2025 agreement and subsequent amendments). This merger agreement, involving BDCI Merger Sub I Inc., BCDI Merger Sub II LLC and One Blockchain LLC, remains subject to customary closing conditions and shareholder approvals.
3. Expansion into College Basketball Recruitment
Building on its football recruitment platform, Signing Day Sports has launched support for college basketball recruiting. The Company hosted its inaugural basketball combine in Salt Lake City, Utah in collaboration with former NBA player Thurl Bailey, who contributed to the design of the forthcoming basketball module. This event measured player metrics, collected video-verified skill drills and academic data, and provided coaches with a standardized evaluation process. Additional combines and technology rollouts are scheduled over the next quarter, aiming to enroll hundreds of high school prospects and onboard college coaches to the expanded platform.