Bitcoin treasury firm Nakamoto is seeking shareholder approval for a reverse stock split to maintain its listing on the Nasdaq after its share price dropped to about $0.22, down roughly 99% from its May 2025 peak. According to a preliminary Schedule 14A filing, the company proposed a reverse split ratio between 1-for-20 and 1-for-50. This process would reduce the number of outstanding shares while proportionally increasing the share price, helping the company meet Nasdaq’s minimum $1 bid requirement and avoid delisting.
Share Registration and Future Securities Issuance Plans
In a separate Form S-3 filing, Nakamoto registered more than 400 million shares for potential resale by existing investors. While this does not immediately raise new capital, it creates a potential stock overhang that could pressure share prices. The company also disclosed a shelf registration allowing up to roughly $7 billion in future securities issuance. This includes an at-the-market (ATM) program worth up to approximately $5 billion, enabling the firm to sell newly issued shares gradually into the market.
Bitcoin Holdings and Industry Market Pressure
Nakamoto recently sold about 5% of its Bitcoin reserves, leaving it with 5,058 BTC, signaling liquidity management efforts. The company’s share decline mirrors broader pressure across bitcoin treasury firms, as falling Bitcoin prices from above $126,000 in October to near $70,000 have weighed heavily on related stocks.
Disclaimer
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