BrainChip (ASX:BRN) plans to investigate redomiciling from Australia to the US to pursue a listing on a US-based securities exchange, according to a Friday filing with the Australian bourse.

If formally pursued, a scheme of arrangement between the company and its shareholders will be proposed, subject to shareholder and Australian court approval. This timing would position the company for redomiciling by late this year or early 2026, the filing said.

The company would seek to delist its securities from the Australian Securities Exchange as part of the process and maintain existing shareholders' securities listed on the US exchange, equivalent in value to their ASX-listed stock, per the filing.

Shares were down 22% in morning trade Friday.