Nakamoto, a Nasdaq-listed “Bitcoin treasury” company, is planning a reverse stock split to address a steep decline in its share price. According to reports, the company’s shares closed Wednesday at about 16 cents, down more than 99% from their level in May last year, when the stock traded above $25. Nakamoto is considering a 1-for-40 reverse split, which would reduce the number of outstanding shares while increasing the per-share price. The company’s objective is to lift its stock price to at least $1, which is described as necessary for Nasdaq compliance. The sources frame the move as an effort to stabilize the trading price and meet exchange requirements after a prolonged fall in the company’s market value. Neither report indicates that the reverse split changes the company’s underlying business or cash position; the focus is on restoring compliance and improving share-price metrics used by Nasdaq. The reports do not specify a final timeline or whether the reverse split has already been approved.
Nakamoto plans 1-for-40 reverse stock split after shares plunge 99%
Nakamoto, a Nasdaq-listed “Bitcoin treasury” company, is planning a reverse stock split to address a steep decline in its share price. According to reports, the company’s shares closed Wednesday at ab...
- Nakamoto’s shares close at about 16 cents after a major decline.
- The stock is down more than 99% versus its May level when it traded above $25.
- The company plans a 1-for-40 reverse stock split to reduce share count.
- Nakamoto aims to raise the share price to at least $1 to regain Nasdaq compliance.
- The reverse split is intended to address Nasdaq listing requirements rather than describe a change to business operations.
Shares in Nakamoto closed Wednesday at 16 cents. They are down more than 99% from May last year, when the stock traded above $25.
3 months agoBitcoin treasury company Nakamoto aims to massively reduce its share count as it seeks a price of at least $1 to regain Nasdaq compliance.
3 months ago
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