Nakamoto’s Reverse Stock Split Proposal Amid Nasdaq Delisting Threat
- Nakamoto’s stock is trading at $0.21, significantly below the Nasdaq’s $1 minimum requirement.
- The company plans a reverse stock split to consolidate its approximately 690 million shares and increase per-share price.
- CEO David Bailey’s recent deals doubled outstanding shares, raising dilution concerns among investors.
- Nakamoto sold 284 BTC in March but still holds around 5,058 BTC, valued at approximately $365 million.
- The company must meet Nasdaq compliance by June to avoid potential delisting or market transfer.
Nakamoto is seeking shareholder approval for a reverse stock split as it faces delisting from the Nasdaq due to its low share price of $0.21, far below the required $1 minimum. The firm holds a significant bitcoin treasury, despite recent sales to fund operations.
The proposed reverse split aims to boost Nakamoto’s share price and maintain its Nasdaq listing, while addressing investor concerns over potential dilution following CEO David Bailey’s acquisitions that doubled share count. (Source)
