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Russian (RU) Thu, Sep 11, 2025, 7:42 AM 2 min read
Eightco Holdings Inc. (NASDAQ:OCTO) shares slid after it announced on Thursday that its Nasdaq ticker symbol has officially changed to ORBS. The company said this rebranding does not affect shareholder rights and requires no action from investors.
The change follows a $270 million private placement to support Worldcoin’s treasury strategy. Among the investors were World Foundation, GAMA, FalconX, Kraken, Pantera, GSR, Coinfund, and BitMine Immersion Technologies (NYSEAMERICAN: BMNR), which contributed $20 million.
Dan Ives, a longtime technology analyst, has been named chairman of the board. He described ORBS as more than a ticker, it stands for trust and identity in an AI realm. He emphasized that World’s Proof of Human system verifies identity without retaining personal data permanently, blending security and privacy.
The new system is underpinned by the world’s first iris-scanning Orb device. It is designed to ensure unique human verification, fair token distribution, and a trusted digital identity. The company sees this framework as a foundation for future online trust and secure transactions.
RF Lafferty & Co. acted as the exclusive placement agent. Cantor Fitzgerald advised lead investor MOZAYYX. Moelis & Company advised BitMine Immersion Technologies. Legal counsel included Winston & Strawn, Graubard Miller, and Lucosky Brookman LLP.
In addition to the placement, Eightco filed a $2.7 billion at-the-market prospectus with R.F. Lafferty, giving it the flexibility to issue shares gradually and strengthen its balance sheet.
Although ORBS shares rallied dramatically in recent days, early trading saw a pullback. The stock was down in premarket trading, reflecting some profit-taking after its sharp gains earlier this week. On Sept. 9, shares closed at about $40.17.
Price Action: OCTO shares are trading lower by 8.50% to $22.06 premarket at last check Thursday.
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This article What's Going On With Eightco Holdings Stock Thursday? originally appeared on Benzinga.com
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