FreeCast Inc. (NASDAQ: CAST) announced that substantially all warrants issued in April 2026 expired unexercised, returning 6,493,587 previously reserved shares of Class A common stock to authorized but unissued status.

The warrants were originally issued on April 8, 2026, to 137 accredited investors with the right to purchase 6,743,587 shares of FreeCast Class A common stock. The warrants initially carried an exercise price of $4.25 per share and were set to expire on May 15, 2026.

On May 8, 2026, FreeCast's Board of Directors amended the terms, reducing the exercise price to $1.33 per share and extending the expiration date to May 22, 2026.

Only two warrant holders exercised their warrants, representing 250,000 shares of Class A common stock. FreeCast received $332,500 in proceeds from these exercises.

All remaining warrants expired unexercised on May 22, 2026. The company stated that the expiration reduces near-term potentially issuable shares while preserving authorized share capacity for general corporate purposes.

The shares issued upon exercise were exempt from registration under the Securities Act of 1933, pursuant to Section 4(a)(2) and Rule 506 of Regulation D. The investors were accredited investors acquiring the securities for investment purposes.

FreeCast operates as a digital streaming platform and media technology company focused on streaming aggregation, FAST channel distribution, advertising technology, and Platform-as-a-Service solutions.