Lendway shares surge 14.48% intraday after increasing authorized shares to strengthen financial position.

Lendway surged 14.48% intraday after shareholders approved a plan to increase authorized common shares from 5.7 million to 10 million and elected six directors at its 2025 annual meeting. The move, which was approved with 1.17 million votes in favor, provides the company flexibility to raise capital for operations. Concurrently, Lendway secured a $10 million temporary increase in its revolving credit facility and $4 million in new notes, with a $6.1 million outstanding balance reported. These actions, aimed at strengthening liquidity and financial flexibility, were interpreted by investors as positive steps to address the company’s high leverage and negative EBITDA, driving the sharp intraday rally.