ACY - ACY STOCK NEWS

AeroCentury Corp. plans to change its name to Mega Matrix Corp. and its trading symbol from ACY to MTMT, effective March 28, 2022. This rebranding aims to reflect its expansion into the Metaverse and GameFi sectors. The company operates through two subsidiaries: Mega Metaverse Corp. and JetFleet Management Corp.. AeroCentury will continue its focus on third-party management services for aircraft while pursuing new opportunities in the gaming sector.

AeroCentury Corp. (ACY) announced on March 14, 2022, that it has regained compliance with the NYSE American's continued listing standards, following prior notices of non-compliance in September 2020 and May 2021. This compliance was confirmed by the NYSE American on March 11, 2022, as a result of management's efforts. The company, based in Palo Alto, California, focuses on the GameFi sector through its subsidiary Mega Metaverse Corp. and continues to manage aircraft operations via JetFleet Management Corp.

AeroCentury Corp. (ACY) has announced the commencement of player registration for its metaverse platform, alSpace, in January 2022. Players can register for a 7-day test-play period featuring the mini game 'Mano' and receive a free alBot Tester, an avatar for gameplay. The alBot Tester can be obtained multiple times in specified time slots. Following the test-play, an NFT blind box will be available for pre-sale, containing alBots and other items. The company aims to capitalize on the growing GameFi trend, projecting profitable returns for players and shareholders.

AeroCentury Corp. (ACY) announced plans for a 5-for-1 forward stock split, effective January 10, 2022. Shareholders on record as of December 30, 2021, will receive four additional shares for each share held. Post-split, total shares outstanding will rise from 4,416,811 to 22,084,055. The board approved an increase in authorized shares from 13 million to 40 million. The stock split aims to enhance liquidity and accessibility for investors. No need for stock certificates exchange, and shareholders will maintain their percentage ownership after the split.

AeroCentury Corp. (ACY) has launched its GameFi business via its subsidiary, Mega Metaverse Corp. MEGA plans to debut its NFT game 'Mano' in Q1 2022. Mano is a competitive idle RPG that allows players to earn while playing, featuring unique NFTs termed 'alBots'. The company positions itself as the first NYSE AMEX listed firm in this sector. Additionally, MEGA aims to create a marketplace for NFT trading and other game developments, leveraging the burgeoning GameFi market projected to surpass $200 billion next year.

AeroCentury Corp. (ACY) reported its fiscal third quarter results for 2021, revealing a net income of $27.5 million, a significant turnaround from a $4.1 million loss in 2020. The company emerged from Chapter 11 bankruptcy on September 30, 2021, following a confirmed reorganization plan on August 31. However, revenues fell 54% to $1.6 million compared to $3.5 million in the same quarter last year, attributed to decreased operating lease revenue. Operating expenses also declined to $2.7 million from $7.0 million in 2020.

AeroCentury Corp. (ACY) announced the payment of a special cash dividend of $0.6468 per share to legacy shareholders following its exit from Chapter 11 bankruptcy. The dividend payment was made on October 13, 2021, with the record date set for September 30, 2021. CEO Yucheng Hu expressed gratitude towards shareholders and emphasized the company's commitment to enhancing shareholder value through the growth of its aircraft leasing business.

AeroCentury Corp. (ACY) has successfully closed a sale of 2,870,927 shares of Common Stock at $3.85 per share, raising approximately $11 million. This transaction, approved by the U.S. Bankruptcy Court, allows the company to emerge from Chapter 11 bankruptcy, with the new investors holding about 65% of the shares. CEO Yucheng Hu emphasized the intent to expand revenue streams and invest in growth opportunities, particularly through the subsidiary JetFleet Holding Corp. This marks a significant new chapter for AeroCentury in the aviation industry.

AeroCentury Corp. has announced a special dividend of $0.6468 per share for its Legacy Shareholders, in conjunction with its planned exit from Chapter 11 reorganization. The dividend will be payable on October 13, 2021, to shareholders on record as of September 30, 2021, which is also the anticipated effective date of the company's restructuring plan. The dividend payment is contingent on the successful closing of a common stock investment by a plan sponsor group led by YuCheng Hu.