Overview
- The company said the 1-for-15 reverse stock split will be effective at 5:00 p.m. ET on July 2 and that Class A shares are expected to trade on a split-adjusted basis on Nasdaq at the open on July 6.
- Every 15 issued Class A and Class B shares will convert into one share, cutting outstanding stock from about 1.092 billion to roughly 73 million and leaving authorized shares unchanged.
- Holders will not need to take action and registered fractional shares will be cashed out by Continental Stock Transfer & Trust Company while brokered positions will be automatically adjusted.
- American Bitcoin is majority-owned by Hut 8 and runs mining operations while holding a multi‑thousand BTC treasury (reports range roughly 6,000–7,500 BTC), but its shares recently hit fresh lows and have fallen steeply over the past month and year.
- This is the third reverse split in roughly two and a half years and the company says the goal is Nasdaq compliance; the action raises the per‑share price but does not change the company’s market value and could only delay delisting risk if the post‑split price does not hold.