According to the bulletin, the Bitcoin mining company American Bitcoin, which is supported by Trump, is planning to implement 15-to-1 reverses to raise the price per share and maintain its listing in the NASDAQ capital market. Under the programme, each 15 units of the existing general A and B units would be merged into one unit, without the shareholders having to operate on their own.
There will be a significant contraction in total equity.
The company stated that, upon completion of the reverse dismantling of the stock, the total equity would be reduced from approximately 1.39 billion to about 73 million. The company indicated that the main purpose of the arrangement was to return the stock price to the minimum purchase price required by the NASDAQ capital market.
In the event of a break-down, the company will treat it in cash and will no longer retain a piecemeal share.
Company mining and currency
American Bitcoin is currently engaged in large-scale bitcoin mining and holds bitcoin on balance sheets. The company was listed in September last year as part of Hut 8 ' s promotion of its bitcoin infrastructure layout.
Advance adjustment at stock price pressure
Prior to the disclosure of this arrangement, the company ' s share price had fallen to a new low. At the same time, bitcoin recently reported about $60150, falling 16 per cent over the past month, but up from a low of $58,000 overnight.
By text, bitcoin also fell by more than 50 per cent above its historical high of $126,000 last October. In the case of American Bitcoin, whether the reverse dismantling of the stock will stabilize the market position will be a market concern in the short term.