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Nakamoto Inc. (NAKA) Strengthens Balance With 600 Bitcoin Sale, Refinancing, and Buyback Authorization

Bitcoin Magazine

Nakamoto Inc. (NAKA) Strengthens Balance With 600 Bitcoin Sale, Refinancing, and Buyback Authorization

Nakamoto Inc. (Nasdaq: NAKA), a Nashville-based Bitcoin operating company, announced today a set of capital structure initiatives that include a $45 million debt reduction, a loan refinancing with extended maturities, and a $25 million share repurchase authorization. 

Shares of NAKA briefly climbed 20% on the news, at the time of writing.

The company retired $45 million in outstanding debt through the repayment of a portion of its loan with Payward Interactive, Inc., doing business as Kraken. Nakamoto funded the repayment by selling approximately 600 Bitcoin and Bitcoin-related derivative positions, which generated approximately $48 million in net proceeds. 

The transaction leaves Nakamoto with approximately 4,467 Bitcoin on its balance sheet.

Nakamoto’s new loan term sheet

Following the paydown, Nakamoto entered into a new loan term sheet under its existing Master Loan Agreement with Kraken. The agreement governs a remaining outstanding balance of 165 million USDT. Under the new structure, 60 million USDT matures on December 4, 2026, while the remaining 105 million USDT has been extended to June 30, 2027. 

The interest rate moves from 8.0% to 7.75% per annum, contingent on the company maintaining a baseline collateral level of 2,000 Bitcoin within a separately managed account at Bitwise Asset Management. 

The company estimates the restructured debt will reduce annual financing costs by approximately $4 million.

“These actions also strengthen our capital structure and are expected to lower financing costs, providing additional optionality as we continue executing our long-term Bitcoin treasury strategy,” said Tyler Evans, Chief Investment Officer and Director of Nakamoto. “We are grateful to Kraken for being a thoughtful and supportive financing partner throughout this process.”

Share repurchase authorization

Nakamoto’s Board of Directors authorized a share repurchase program of up to $25 million in the company’s outstanding common stock through December 31, 2026. 

The program, designated the 2026 Repurchase Program, permits purchases through open market transactions, privately negotiated deals, block trades, and Rule 10b5-1 trading plans. 

Earlier this week, on June 9, Nakamoto said they received a letter from Nasdaq Listing Qualifications confirming the company regained compliance with the exchange’s minimum $1.00 bid price requirement, closing the matter. 

Bitcoin Magazine is published by BTC Inc, a subsidiary of Nakamoto Inc. (NASDAQ: NAKA)

This post Nakamoto Inc. (NAKA) Strengthens Balance With 600 Bitcoin Sale, Refinancing, and Buyback Authorization first appeared on Bitcoin Magazine and is written by Micah Zimmerman.


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