Lendway shares surge 14.04% after-hours as shareholder approved 10M share increase from 5.7M.

Lendway Inc. (NASDAQ: LDWY) surged 14.04% in after-hours trading following the company’s filing of amended certificates in Delaware to increase its authorized common shares from 5.7 million to 10 million, with a par value of $0.01 per share. The move, which took immediate effect, was approved by shareholders with 1.17 million votes in favor, 223,490 against, and 5,241 abstentions. The board had previously authorized the share increase on September 26, and the CFO signed the documents. While the stock closed 3.11% lower in regular trading, the after-hours rally reflects investor optimism that the expanded capital structure will support growth initiatives or fundraising efforts. The company’s shares had declined 26.92% year-to-date prior to the after-hours surge.