Nakamoto Inc. Announces 1-for-40 Reverse Stock Split and Board Expansion

On May 21, 2026, Nakamoto Inc. filed an 8-K reporting two significant corporate actions. First, the company implemented a 1-for-40 reverse stock split of its common stock, effective May 22, 2026, to increase the per-share trading price and regain compliance with Nasdaq's $1.00 minimum bid price requirement. The reverse split reduces outstanding shares from approximately 696.1 million to 17.4 million. Second, the company expanded its board of directors from six to seven members and appointed Tyler Evans, the company's Chief Investment Officer, as a Class II director. Evans will not receive additional compensation for his board service and does not qualify as an independent director under Nasdaq rules. The reverse stock split was previously approved by stockholders at a special meeting on May 8, 2026, with the board authorized to determine the exact ratio within a 1-for-20 to 1-for-50 range.