Nakamoto (NAKA) seeks reverse stock split to stay Nasdaq above $1

Bitcoin treasury firm Nakamoto (NAKA) is asking Nasdaq approval for a reverse stock split to regain compliance with the $1 minimum bid rule. The company proposed a split ratio between 1-for-20 and 1-for-50 after its shares fell to about $0.22, down roughly 99% from a May 2025 peak. A reverse stock split reduces share count and increases the displayed share price proportionally, a common tactic to avoid Nasdaq delisting when the minimum bid price is missed. Alongside the corporate action, Nakamoto has registered more than 400 million shares for potential resale (via Schedule 14A/Form S-3), which can create a near-term supply overhang. It also has a shelf registration for up to about $7 billion of future securities issuance, separate from an at-the-market (ATM) program of up to roughly $5 billion. On the crypto side, Nakamoto recently sold about 5% of its bitcoin holdings, leaving it with 5,058 BTC, suggesting ongoing liquidity management. For traders, this “reverse stock split” headline is mainly an equity-market compliance move, but the large registered share volume and future issuance authorization can pressure NAKA sentiment and liquidity in related trading pairs. Given the firm’s continued BTC holdings and moderate trimming, direct impact on spot BTC price may be limited, though it can affect risk appetite around bitcoin-treasury equities.