Signing Day Sports Updates On Business Combination Agreement With One Blockchain Under BlockchAIn Holding Structure; Combined Entity To Advance Crypto Mining And AI Compute Expansion

Signing Day Sports, Inc. ("Signing Day Sports" or the "Company") (NYSE:SGN), the developer of the Signing Day Sports app and platform to aid high school athletes in the recruitment process, today provided an update on its Business Combination Agreement ("BCA") with One Blockchain LLC ("One Blockchain"), One Blockchain's affiliate, BlockchAIn Digital Infrastructure, Inc. ("BlockchAIn"), and certain other parties.

Subject to satisfaction of required closing conditions, the BCA provides for a business combination of Signing Day Sports and One Blockchain under a holding company structure, in which Signing Day Sports and One Blockchain will become subsidiaries of BlockchAIn. Subject to the closing of the transactions contemplated by the BCA (the "Transactions"), the combined entity is expected to continue the operations of One Blockchain, which include data center operations for Bitcoin mining with plans to expand into related fields including high-performance AI-related computing. One Blockchain currently operates a 40 MW crypto mining hosting facility in South Carolina, with expansion capacity up to 50 MW subject to utility approval and final engineering, and plans for a modular 150 MW facility in Texas targeted for 2027 pending a suite of agreements that are under negotiation. In 2024, One Blockchain generated revenue of approximately $22.9 million and net income of approximately $5.7 million.

The closing of the Transactions is expected to occur late in the fourth quarter of 2025 or the first quarter of 2026, subject to certain conditions, including, without limitation, the public filing and effectiveness of the Registration Statement, approval of Signing Day Sports stockholders, and approval of the listing of the registered common shares of BlockchAIn by the NYSE American.