AVAX One Technology, the Nasdaq-listed digital infrastructure company trading under AVX, disclosed in an SEC 8-K filing that CEO Jolie Kahn resigned on July 3. COO Pete Wylie has been appointed interim CEO. The company said the departure was mutually agreed and was not related to disagreements over operations, policy, or practices. Under the separation agreement, Kahn will receive a one-time cash payment of $160,000 and common stock valued at $250,000. The board has also engaged global executive search firm ZRG Partners to identify a permanent successor. The leadership transition comes as AVAX One continues to face Nasdaq compliance pressure after previously receiving notice that its share price had fallen below the $1 minimum bid requirement. Shareholders approved a 1-for-12 reverse stock split on May 29, which became effective on June 15. AVAX One’s business includes roughly 300 PH/s of Bitcoin mining capacity in Alberta and Ohio, an AVAX treasury strategy generating staking yield, and modular data center development focused on AI and high-performance computing.
AVAX One discloses CEO departure and interim appointment
According to an SEC 8-K filing, Nasdaq-listed digital infrastructure company AVAX One Technology (AVX) said CEO Jolie Kahn resigned on July 3. Chief Operating Officer Pete Wylie has been appointed interim CEO while the company searches for a permanent replacement. AVAX One said the resignation was a mutual decision and was not tied to any disagreement involving the company’s operations, policies, or practices.
Under the separation agreement, Kahn will receive a one-time cash payment of $160,000 as well as common stock valued at $250,000. The company also said its board has retained global executive search firm ZRG Partners to lead the search for a permanent chief executive.
Leadership change arrives amid Nasdaq compliance pressure
The executive transition comes as AVAX One remains under pressure to address Nasdaq listing compliance issues. The company had previously received notice that its share price fell below the $1 minimum bid requirement. In response, shareholders approved a 1-for-12 reverse stock split on May 29, and the split became effective on June 15.
AVAX One’s disclosed core businesses include Bitcoin mining operations in Alberta and Ohio with approximately 300 PH/s of computing power, maintaining a strategic AVAX treasury that generates staking yield, and building modular data centers aimed at AI and high-performance computing workloads.
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