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David Bailey's Nakamoto Contemplates Reverse Split Amid Delisting Deadline
The embattled DATco is considering emergency measures to remain compliant with Nasdaq's listing requirements.
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Nakamoto (NASDAQ: NAKA) has filed a proxy statement with the Securities and Exchange Commission, imploring shareholders to approve an emergency reverse share split at a special meeting of investors, scheduled for May 8.
What's the Scoop?
- Reverse Split Request: Nakamoto has filed a Schedule 14A proxy statement, inviting shareholders to attend a special vitrual meeting held on May 8, during which the company will ask its investors to approve a reverse stock split of at least 1:20, but not greater than 1:50.
- Intended Effect: According to Nakamoto's proxy statement, the motivation for the reverse split is, "to meet the Nasdaq Global Market’s continued listing requirements, which requires, among other things, that our Common Stock have a per share bid price that is greater than or equal to $1.00 per share."
- Out of Compliance: Nakamoto shares have failed to trade above $1.00 since October 30 (110 trading days), and the company previously received a notice from Nasdaq's Listing Qualifications staff on December 10, informing Nakamoto it must regain compliance by June 8.
$NAKA SEEKS REVERSE STOCK SPLIT TO REGAIN $1 NASDAQ MINIMUM
— Blockspace (@blockspace) April 10, 2026
David Bailey's @nakamoto has filed a Schedule 14A with the U.S. SEC for a special meeting of investors May 8
The company is seeking a reverse stock split greater than 1:20 and less than 1:50 to regain @Nasdaq's… pic.twitter.com/rJ168KSgPs