Bitcoin Treasury Company Nakamoto Plans 1:40 Reverse Stock Split to Maintain Nasdaq Listing Eligibility
2026-05-21 01:52
Odaily Planet Daily reported that Bitcoin Treasury company Nakamoto plans to implement a 1:40 reverse stock split to push its stock price back above $1, thereby meeting Nasdaq listing compliance requirements.
According to the plan, the number of outstanding shares will be reduced from approximately 696.1 million to about 17.4 million, with the split expected to take effect on May 22.
Previously, Nakamoto reported its Q1 2026 financial results, with a net loss of $238.8 million. Among this, approximately $107.7 million came from write-downs related to pre-acquisition options, while another roughly $102.5 million loss stemmed from book losses on its holdings of 5,058 BTC during the 23% decline in Bitcoin price that quarter. (Decrypt)
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