Nakamoto seeks reverse stock split to stay listed on Nasdaq exchange

Nakamoto’s board is preparing to ask shareholders to approve a reverse stock split intended to cure a Nasdaq listing deficiency after the share price tumbled sharply over the past year. The move aims to raise the per‑share price above the exchange’s minimum bid requirement and stave off potential delisting.

According to preliminary proxy materials and market filings, NAKA shares fell from about $34.77 in May 2025 to roughly $0.21, a decline of approximately 99%. The company, which completed a merger and rebranding after combining with Nakamoto Holdings and shifting from healthcare to a bitcoin‑treasury model, has used PIPE financings and convertible instruments that materially increased outstanding shares and pressure on market pricing.

The immediate market implication is reduced liquidity and higher risk of trading on less regulated venues if Nasdaq removes the listing; a reverse split would be a technical cure but not a fundamental fix. Traders and institutional managers caution that unless dilution, debt and operational governance issues are addressed, any temporary price bump could fade.

More broadly, the episode highlights structural risks for firms that hold significant cryptocurrency treasuries: financing strategies that rely on discounted equity sales can rapidly erode retail and institutional confidence, while volatile underlying asset prices (Bitcoin) transmit directly to equity valuations. Nakamoto’s trajectory will be watched as a test case for bitcoin‑native public companies.

Market analysts outline several paths forward: approval of a reverse split at ratios authorized in proxy materials, further capital raises or debt refinancing, or a migration of the listing venue if compliance cannot be restored. Investors should monitor upcoming SEC filings, shareholder meeting notices and any Nasdaq communications for timing and the exact split ratio the board elects to implement.