SplitMay 22, 2026, 04:13 PM
Nakamoto Announces 1-for-40 Reverse Stock Split; Appoints New Director
AI Summary
Nakamoto Inc. announced a 1-for-40 reverse stock split of its common stock, effective May 22, 2026, to comply with Nasdaq's minimum bid price requirement. This action will reduce outstanding shares from approximately 696.1 million to 17.4 million, with cash paid for fractional shares. Additionally, the company expanded its Board of Directors from six to seven members and appointed Tyler Evans, its Chief Investment Officer, as a Class II director.
Key Highlights
- Nakamoto Inc. effected a 1-for-40 reverse stock split of its common stock.
- The reverse stock split became effective at 12:01 a.m. ET on May 22, 2026.
- The split is intended to regain compliance with Nasdaq's $1.00 minimum bid price requirement.
- Outstanding shares reduced from approximately 696.1 million to 17.4 million post-split.
- No fractional shares will be issued; stockholders receive cash in lieu.
- Board of Directors increased from six to seven members.
- Tyler Evans, Chief Investment Officer, was appointed as a Class II director.
- Mr. Evans will not receive additional compensation for his board service.
Price Impact
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