From 1:20 to 1:40, the board chose the most aggressive ratio, it seems they are really in a hurry.

Wu Shuo has learned that Bitcoin Treasury Company Nakamoto announced that it will implement a 1:40 reverse stock split at 1:40 AM Eastern Time on May 22, 2026, to meet the Nasdaq continued listing requirement of a minimum $1 share price. After the split is completed, the company’s outstanding shares will be reduced from approximately 696.1 million shares to approximately 17.4 million shares, and the stock ticker will remain “NAKA”. The company’s shareholders previously approved the board of directors to implement the reverse stock split in the 1:20 to 1:50 range on May 8, after which the board determined to use a 1:40 ratio. NAKA’s stock price has currently fallen by about 99.5% in total from its peak in May last year.