Nakamoto Seeks Reverse Split to Avoid Nasdaq Delisting

Nakamoto, a Nasdaq-listed Bitcoin treasury company, has filed a preliminary proxy statement seeking shareholder approval for a reverse stock split at a ratio between 1-for-20 and 1-for-50, aiming to boost its share price above the exchange's $1 minimum bid requirement and avert potential delisting. The filing, submitted in early April 2026, comes as the company's stock trades around $0.21 to $0.22, marking a roughly 99 percent decline from its peak in May 2025.

The proposal would consolidate outstanding shares to proportionally increase the per-share price without altering the company's overall market value. For instance, under a 1-for-20 ratio, 20 shares at $0.20 each would become one share valued at $4. Nasdaq rules require listed companies to maintain a minimum bid price of $1 per share, with noncompliance for 30 consecutive business days triggering a review process. Nakamoto received such a notice on December 10, 2025, after its shares fell below the threshold. The company has until June 8, 2026, to regain compliance by closing at or above $1 for at least 10 consecutive business days. Without the split, the stock would need to surge more than 350 percent on its own to meet...