Federal Register #SR-24X-2026-10

SEC Notice: Proposed Rule Change to Amend 24X US Holdings LLC Agreement for Voting Common Units Transaction

This notice from the Securities and Exchange Commission (SEC) addresses a proposed rule change related to the ownership structure of 24X US Holdings LLC: - The rule change was filed by 24X National Exchange LLC and concerns amending the Limited Liability Agreement of 24X US Holdings LLC. - The amendment enables the issuance of additional Voting Common Units after the conversion of a convertible promissory note, as part of a capital raise. - Shinhan Securities Co., Ltd. will be admitted as a new member, receiving 755,632 Voting Common Units. - Ownership percentages will be adjusted: - 24X Bermuda Holdings LLC's share will decrease to 84.41%. - Rakuten Securities Holdings, Inc.'s share will decrease to 8.50%. - The total authorized Voting Common Units will increase from 9,900,000 to 11,280,914. - Proceeds from the transaction will support the regulation and operation of the Exchange. - The governance structure of the Exchange will remain unchanged. - No procurement of products or services is involved; this is a regulatory notice regarding corporate structure and ownership changes.

Description

This notice announces a proposed rule change filed by 24X National Exchange LLC with the Securities and Exchange Commission. The proposal seeks to amend the Limited Liability Agreement of 24X US Holdings LLC to facilitate the issuance of additional Voting Common Units upon conversion of a convertible promissory note as part of a capital raise. The amendment includes admitting Shinhan Securities Co., Ltd. as a member and adjusting ownership percentages among members. The change aims to provide additional funding for the regulation and operation of the Exchange without altering its governance structure.

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