Nakamoto Inc. Debt Reduction and Share Repurchase Announcement
Nakamoto Inc. (NASDAQ: NAKA) reported that its shares rose 7.5% on the day after the company disclosed a $45 million reduction in outstanding debt and the authorization of a $25 million share repurchase programme. The debt repayment was funded by the sale of approximately 600 Bitcoin and related derivative positions, generating roughly $48 million in net proceeds. Following the repayment, Nakamoto entered into a new loan term sheet with Payward Interactive, Inc., operating as Kraken, which extends about 105 million USDT of principal to 30 June 2027. Under the revised loan terms, 60 million USDT will mature on 4 December 2026, while the remaining 105 million USDT is extended to June 2027. The refinancing lowers the interest rate to a range of 7.75 %‑8.00 % per annum and is expected to reduce annual financing costs by approximately $4 million. The lower rate is conditional on maintaining a baseline collateral level of 2,000 Bitcoin in a separately managed account with Bitwise Asset Management. After the transactions, Nakamoto retained a Bitcoin treasury of about 4,467 Bitcoin. The board also approved a share repurchase programme of up to $25 million of outstanding common stock, to be executed through open‑market purchases, privately negotiated transactions, block trades, or other methods permitted under securities regulations, with a deadline of 31 December 2026. Additionally, the company regained Nasdaq compliance, receiving confirmation on 9 June 2026 from Nasdaq Listing Qualifications that it satisfied the minimum $1 bid‑price requirement.