As if the crypto landscape wasn’t already facing challenges, another Bitcoin-related company is under the threat of being delisted from Nasdaq. Kindly MD (NASDAQ: NAKA) revealed on December 10th that the Securities and Exchange Commission (SEC) issued a delisting notice after the firm’s stock failed to trade above the $1 minimum bid requirement for 30 straight business days.
According to Nasdaq Listing Rule 5810(c)(3)(A), Kindly MD has 180 days to comply, with a deadline set for June 8, 2026. To avert delisting, their stock needs to rise above the $1 mark for at least 10 consecutive business days within this six-month period. There’s also a possibility for Nasdaq to extend this timeline by an additional 20 days.
If compliance isn’t achieved, there’s still a chance for the company to move its listing to the Nasdaq Capital Market. However, failure to meet the requirements could ultimately lead to delisting.
The company clarified that this notification doesn’t impact the trading of its stock, which still operates under the ticker ‘NAKA’. Interestingly, Kindly MD merged with David Bailey’s Nakamoto Holdings, a notable name in the crypto space, back in mid-May, evolving into a Bitcoin finance firm.
Currently, Kindly MD holds 5,398 BTC, translating to over $473 million at this point in time. However, it’s worth mentioning that their funding strategy, which heavily relies on selling discounted PIPE shares to amass Bitcoin, seems to be working—at least for now. The stock has surged almost 100% since mid-June, trading at about $0.3810 recently.
