Nakamoto (NAKA), a Nasdaq-listed company strategically accumulating Bitcoin, announced that it will implement a 1-for-40 reverse stock split starting May 22 (local time). According to Business Wire, this measure was taken to meet the minimum share price requirement (above $1) for maintaining its listing on the Nasdaq Global Market. Following the reverse stock split, 40 existing common shares will be consolidated into 1 share, and the ticker will remain 'NAKA' after the stock consolidation.
