696 million becomes 17.4 million, the number of shares has decreased, but the story continues

According to Mars Finance, Nakamoto, the Nasdaq-listed Bitcoin Treasury Company, announced that it will implement a 1-for-40 reverse stock split to meet the Nasdaq minimum continued listing price requirement. The plan has been approved by the shareholders’ meeting. After the reverse split, the number of outstanding shares will be reduced from approximately 696.1 million shares to approximately 17.4 million shares, while the par value and total authorized capital remain unchanged. The reverse split will take effect at 12:01 AM Eastern Time on May 22, 2026. The adjusted shares will continue trading at the post-split price after the market opens on the same day, and the trading code will remain NAKA.