South Korean firm Bitmax announces 4-for-1 reverse stock split

South Korean crypto accumulation firm Bitmax announced a capital reduction today through a four-for-one reverse stock split, consolidating every four common shares into one. According to a disclosure reported by Edaily, the move is intended to improve the company's financial structure by offsetting its deficit. The split will reduce the total number of issued shares from 41,937,104 to 10,484,276. The decision comes as the company faces difficulties, including a recent delisting review and a failed bid to acquire Nasdaq-listed Solowin Holdings (AXG). As of February, Bitmax held 551 BTC, with its last purchase made last August.