Nakamoto to split stock 1-for-40 to meet Nasdaq listing rules
Nakamoto will implement a 1-for-40 reverse stock split to achieve a share price of at least $1.00.
The move follows a 99.5% decline in the company’s share price from its 52-week high of $34.77.
The split will reduce outstanding shares from 696.1 million to 17.4 million, with an expected effective date of May 22.