American Bitcoin Sets Reverse Stock Split as Sub-$1 Nasdaq Risk Builds
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Key Takeaways
- The 1-for-15 reverse stock split becomes effective at 5:00 p.m. on July 2, 2026.
- Split-adjusted trading on Nasdaq is scheduled to begin on July 6, 2026.
- Total issued shares will be reduced from approximately 1.09 billion to 73 million.
- The action is intended to meet Nasdaq's minimum bid price requirement for continued listing.
American Bitcoin (NASDAQ: ABTC) Corp. said its 1-for-15 reverse stock split will take effect after the market closes on Thursday, a move aimed at lifting its share price above the $1 threshold watched under Nasdaq’s minimum bid rule.
The Miami-based bitcoin accumulation and mining company announced on Wednesday that the reverse split will become effective at 5 p.m. New York time on July 2. Its Class A common stock is expected to begin trading on a split-adjusted basis on the Nasdaq Capital Market under the same ticker, ABTC, when the market opens on July 6. The company’s new CUSIP number will be 02462A 203.
The move comes as American Bitcoin’s stock has remained below $1 for most of June. The shares closed at exactly $1 on June 2 and then fell below that level on June 3. They had closed below $1 for 19 consecutive trading sessions through June 30 and were trading around 68 cents on Wednesday, July 1.
That put American Bitcoin within sight of Nasdaq’s minimum bid deficiency trigger, though the company has not disclosed receiving a formal Nasdaq warning. Nasdaq generally issues a deficiency notice when a listed company’s shares close below $1 for 30 consecutive business days. After a notice, companies typically receive an initial 180-day period to regain compliance by closing at or above $1 for at least 10 consecutive business days.
