This is a structural reorganization, not a delisting. The new Seabridge Gold shares continue trading on NYSE under the same ticker. Monitor the spin-off of Valor Gold Corp. shares for potential value unlock. No immediate trading action required for SA holders.
Price Chart
Executive Summary
Seabridge Gold Inc. filed a Form 25-NSE with the NYSE to remove its old common shares (CUSIP 811916105) from listing and registration, effective June 16, 2026, following a mandatory exchange that became effective June 5, 2026. Under the exchange, each old common share converts into one new Seabridge Gold common share (CUSIP 811927102) plus a fractional share of Valor Gold Corp. (approximately 1 share per 1.957 old SA shares). The new Seabridge Gold common shares continue trading on the NYSE under the same ticker, so this is a corporate restructuring event, not a delisting or going-private transaction.
Key Facts
- Form 25-NSE filed June 5, 2026, effective June 16, 2026, to remove old Seabridge Gold common shares (CUSIP 811916105) from NYSE listing and registration.
- Mandatory exchange effective June 5, 2026: each old common share converts into one new Seabridge Gold common share (CUSIP 811927102) plus approximately 0.511 Valor Gold Corp. shares (1 Valor share per 1.957 old SA shares).
- New Seabridge Gold common shares (CUSIP 811927102) continue trading on NYSE — this is not a delisting of the company.
- The exchange is pursuant to Rule 12d2-2(a)(3) — securities now represent other securities in substitution plus a right to receive cash.
- Trading in the old shares was suspended on June 5, 2026.
Financial Impact
No cash consideration disclosed; old shares replaced by new SA shares and fractional Valor Gold Corp. shares. No financial impact on ongoing Seabridge Gold operations.
Risk Factors
- Potential short-term price dislocation during the transition from old to new CUSIP.
- Uncertainty around the valuation and liquidity of the fractional Valor Gold Corp. shares received by holders.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 25-NSE Filing (Primary) | 0000876661-26-000507 |
| Document: 0000876661-26-000507-index.html | 0000876661-26-000507 |
| Document: 0000876661-26-000507.txt | 0000876661-26-000507 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 13, 2026 14d ago | 6-K | $26.73 | awaiting T+60 | — | $26.57 (−0.60%) |
Sep 22, 2026 5w ago | 6-K | $32.56 | awaiting T+60 | — | $26.57 (−18.40%) |
Aug 21, 2026 9w ago | 6-K | $30.16 | awaiting T+60 | — | $26.57 (+11.90%) |
Jul 20, 2026 14w ago | 6-K | $24.79 $26.73 | ▲ +7.83% | ▲ +2.99% | $26.57 (+7.18%) |
Jun 9, 2026 20w ago | 6-K | $27.80 $31.11 | ▲ +11.91% | ▲ +8.09% | $26.57 (−4.42%) |
Jun 8, 2026 20w ago | 6-K | $27.83 $29.92 | ▲ +7.51% | ▲ +4.46% | $26.57 (−4.53%) |
Jun 5, 2026 20w ago | 25-NSE | $29.42 $31.78 | ▲ +8.02% | ▲ +4.02% | $26.57 (−9.69%) |
Jun 4, 2026 20w ago | 6-K | $34.05 $32.39 | ▼ −4.88% | ▼ −6.76% | $26.57 (−21.97%) |
May 27, 2026 21w ago | 6-K | $30.93 $33.27 | ▲ +7.57% | ▲ +5.69% | $26.57 (−14.10%) |
May 22, 2026 22w ago | 6-K | $31.45 $33.55 | ▲ +6.68% | ▲ +3.95% | $26.57 (−15.52%) |
US Market Status
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