Bitcoin treasury Kindly MD faces potential delisting after Nasdaq price notice

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Bitcoin treasury institution Kindly MD has received a Nasdaq announcement aft its shares traded beneath the exchange’s $1 minimum bid terms for 30 consecutive concern days, starting a six-month model to regain compliance oregon hazard being delisted.

The notice, which was issued Wednesday, does not instantly impact trading, but gives the institution until June 8, 2026, to assistance its stock terms supra $1 for astatine slightest 10 consecutive trading days, according to a regulatory filing from the Securities and Exchange Commission (SEC).

If the institution fails to regain compliance wrong the archetypal 180-day period, it whitethorn question an further hold by transferring its listing to the Nasdaq Capital Market, taxable to gathering different listing requirements, the according to the filing. Nasdaq could yet delist the shares if the institution fails to fulfill the bid terms regularisation oregon prosecute disposable remedies.

Kindly MD, a Utah-based healthcare services provider, announced connected May 12 plans to merge with Nakamoto Holdings, marking a displacement toward a Bitcoin treasury strategy. The company’s shares surged to a highest of astir $25 by May 27, and the merger was closed connected Aug. 14.

The stock, trading nether the ticker NAKA, has since fallen by much than 98% and was astatine $0.39 a stock astatine the clip of writing, according to Yahoo Finance data.

PIPE financing weighs connected Nakamoto shares

Nakamoto Holdings was founded successful 2025 by Bitcoin Magazine CEO David Bailey and is structured arsenic a Bitcoin-native holding institution gathering a web of crypto treasury businesses successful concern with BTC Inc., the genitor institution of Bitcoin Magazine and the Bitcoin Conference.

The crisp driblet successful Kindly MD’s stock price, which fell beneath $1 successful October, has been linked to the company’s financing strategy, which relied connected selling discounted shares to backstage investors done $563 cardinal successful backstage concern successful nationalist equity (PIPE) deals to money BTC purchases.

Those PIPE deals created crisp downward unit erstwhile a ample information of the shares became eligible for resale successful September. The surge successful merchantability orders drove a steep driblet successful the stock price, CEO David Bailey told Forbes successful October.

Bailey besides said helium plans to bring Bitcoin Magazine, the Bitcoin Conference and hedge money 210k Capital nether Nakamoto Holdings arsenic portion of an effort to fortify the company’s currency flow.

Kindly MD inactive holds 5,398 Bitcoin, ranking it arsenic the 19th largest nationalist institution by BTC holdings, according to information from BitcoinTreasuries.NET. Back successful August, the institution said 1 of its goals was to get 1 cardinal Bitcoin (BTC).

By comparison, Strategy, the archetypal Bitcoin treasury company, holds 671,268 BTC. Although its banal (MSTR) is down implicit 40% year-to-date, it’s inactive up 452% since the institution began buying BTC successful 2020.