KindlyMD Faces Nasdaq Delisting Risk After Prolonged Low Share Price
KindlyMD (NAKA), a healthcare and bitcoin-treasury company, has been notified by Nasdaq that it faces the risk of delisting after its share price closed below $1 for 30 consecutive trading days. The company has been given a six-month window to regain compliance by achieving a closing share price of at least $1 for 10 consecutive trading days by June 8.
Shares of KindlyMD closed at $0.38 on the latest trading day, with the decline first noted in late October. The stock had surged to a record high in May following its acquisition via a reverse takeover by Nakomoto in August, which retained the KindlyMD name while changing its stock ticker. Since then, the stock price has plummeted approximately 99%, trading currently around 38 cents and about 0.817 times its net asset value (NAV).
KindlyMD holds 5,398 bitcoins valued at approximately $466 million, ranking it as the 19th-largest corporate bitcoin holder according to BitcoinTreasuries.net.
If the company does not meet the Nasdaq price requirement by the deadline, Nasdaq could grant an extension or KindlyMD might pursue a reverse stock split or apply to transfer to the Nasdaq Capital Market. These details were disclosed in a December 12 SEC filing referenced by CoinDesk.
