Next Technology, a listed company that acquired 5,000 Bitcoins in the first half of the year, will implement a 200-for-1 reverse stock split.
PANews reported on September 12th that, according to GlobeNewswire, Next Technology Holding Inc. (NASDAQ: NXTT) announced a 200-for-1 reverse stock split effective September 16th, reducing the company's outstanding shares from approximately 566 million to approximately 2.83 million. The shares will trade on Nasdaq under the new CUSIP number 961884301 at the adjusted price, with no fractional shares generated. The company's authorized share capital and par value remain unchanged, and no action is required by shareholders; the change will be automatically reflected in their accounts.
Last month, Next Technology Holding Inc. released its quarterly report, reporting net revenue of $312 million in the first half of 2025, a 2,373% year-over-year increase, primarily driven by fair value gains on digital assets. The company's Bitcoin holdings increased from 833 at the end of last year to 5,833, with the company acquiring 5,000 Bitcoins during the period through share issuance and cash payments. As of June 30, the company's cash and digital assets totaled approximately $633 million.
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