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AVAX One CEO Jolie Kahn resigns, COO takes over as interim CEO amid Nasdaq compliance pressure

2026-07-07 03:37:34

Mars Finance News, according to an 8-K filing submitted to the SEC, Jolie Kahn, CEO of Nasdaq-listed digital infrastructure company AVAX One Technology (AVX), resigned on July 3, with COO Pete Wylie appointed as interim CEO. The company stated that the departure was "mutually agreed" and did not involve any disagreements over operations, policies, or practices. Under the separation agreement, Kahn will receive a one-time cash compensation of $160k and common stock valued at $250k. The board has engaged global executive search firm ZRG Partners to find a permanent successor. This leadership change comes as AVAX One faces Nasdaq compliance pressure, having previously received a notice due to its stock price falling below the $1 minimum requirement. Shareholders approved a 1:12 reverse stock split on May 29, which took effect on June 15. AVAX One's main business includes mining Bitcoin in Alberta and Ohio with approximately 300 PH/s of hashrate, holding a strategic treasury of AVAX and earning staking rewards, as well as building modular data centers for AI and high-performance computing.

AVAX-1.19%

BTC0.52%

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