Binance to Support Sandisk 1-for-8 Stock Split and Adjust SNDKB Tokenized Stock Holdings Accordingly

According to TechFlow, on November 11, Binance announced that it will support the 1-for-8 stock split of Sandisk Corporation (SNDK) through its tokenized stock product bStocks. Eligible SNDKB holders will receive 7 additional tokens for each token held, increasing their holdings to 8 times the original amount, with the theoretical price adjusted accordingly to one-eighth of the pre-split price.

Binance will suspend SNDKB/USDT spot trading and related deposit and withdrawal services at 08:30 Beijing Time on November 20, and will take a holdings snapshot at 09:00 on the same day. Spot trading is expected to resume at 17:00 on the same day, and withdrawal services at 18:00.

In addition, Binance will automatically close and settle SNDKB margin loans at 23:00 on November 18, and related cross-account and portfolio margin collateral assets will be converted into USDT or USDC.

Source: TechFlow