Nakamoto Inc. (NASDAQ: NAKA) shares rose 7.5% on Thursday after management disclosed a series of balance-sheet and capital-allocation moves intended to lower financing costs and return capital to shareholders.
The company said it reduced outstanding debt by $45 million. To fund the repayment, Nakamoto sold approximately 600 Bitcoin and related Bitcoin derivative positions, producing about $48 million in net proceeds. After completing those sales and repayments, the firm reported that it retained a Bitcoin treasury of roughly 4,467 Bitcoin.
Concurrently, Nakamoto entered a new loan term sheet with Payward Interactive, Inc., doing business as Kraken. The agreement extends approximately 105 million USDT of principal to June 30, 2027, and also sets a maturity of 60 million USDT on December 4, 2026. The refinancing lowered the interest rate to a range of 8.0% to 7.75% per annum, which the company said is expected to reduce annual financing costs by about $4 million.
The lower interest rate is conditional on maintaining a specified baseline collateral level of 2,000 Bitcoin within a separately managed account with Bitwise Asset Management, according to the company statement.
Separately, Nakamoto's board authorized a share repurchase program of up to $25 million of the company's outstanding common stock through December 31, 2026. The repurchases may be executed through a mix of methods - including open market purchases, privately negotiated transactions and block trades - in accordance with applicable securities rules.
Finally, the company confirmed that it regained compliance with Nasdaq listing standards. On June 9, 2026, Nakamoto received notice from Nasdaq Listing Qualifications that it met the exchange's minimum $1 bid price requirement.
Taken together, the transactions reflect a sequence of asset sales, refinancing and capital return actions that management says will lower interest expense while preserving a material Bitcoin holding. The refinancing schedule and the collateral covenant are notable features of the new loan arrangement that will affect Nakamoto's financing costs and asset management over the coming quarters.