While institutional Bitcoin investments are projected to increase significantly in 2025, one of these companies is KindlyMD, a healthcare company led by Bitcoin Magazine CEO David Bailey.
KindlyMD, which has gained prominence through its Bitcoin investments, is facing the risk of delisting from Nasdaq due to the recent declines it has experienced.
According to CoinDesk, KindlyMD, traded on Nasdaq under the ticker symbol NAKA, is at risk of delisting because it has failed to meet Nasdaq's minimum share price requirement, i.e., its listing criteria.
According to Nasdaq's filing with the U.S. Securities and Exchange Commission (SEC), the company's stock closed below $1 for 30 consecutive trading days. At this point, Nasdaq also issued a non-compliance notice.
However, it's not over for KindlyMD. The company has until June 8th to regain compliance.
At this point, the company's stock needs to close at or above $1 for 10 consecutive trading days until June 8, 2026.
If the company fails to achieve this, proceedings will be initiated to delist it from the Nasdaq.
KindlyMD shares have lost approximately 99% of their value since reaching an all-time high in May. The company's stock, which fell below $1 for the first time at the end of October, has not recovered since. It closed at $0.38 the previous day.
KindlyMD currently holds 5,398 Bitcoin, which is worth approximately $466,000,000. According to BitcoinTreasuries.Net data, KindlyMD ranks 19th among publicly traded companies worldwide in terms of the number of Bitcoins it holds.
*This is not investment advice.
