1 month ago
KindlyMD Inc. (KDLY), an integrated healthcare services provider, has agreed to merge with Nakamoto Holdings, a bitcoin-native holding steadfast founded by David Bailey, to signifier a publically traded BTC treasury vehicle, the institution said successful a property merchandise Monday.
The combined entity has secured a full of $710 cardinal successful financing, $510 cardinal via PIPE, priced astatine $1.12 per stock and consisting of communal banal and warrants successful KindlyMD, and $200 cardinal successful convertible notes, making it the largest superior rise to motorboat a bitcoin treasury to date.
Nakamoto's/Bailey's strategy centers connected accumulating bitcoin and increasing per-share BTC holdings done equity, debt, and structured offerings, the merchandise said.
Bitcoin treasury vehicles are becoming progressively fashionable arsenic crypto enters the fiscal mainstream. Strive Asset Management said past week that it was merging with NASDAQ-listed Asset Entities (ASST) to go a publically traded bitcoin treasury company.
The Nakamoto PIPE attracted implicit 200 planetary investors, including VanEck, ParaFi, Arrington Capital, and crypto figures similar Adam Back and Balaji Srinivasan, the institution said.
KindlyMD volition proceed its healthcare operations nether CEO Tim Pickett, portion bitcoin treasury functions displacement nether Nakamoto’s leadership.
The merger is taxable to shareholder support and regulatory clearance, with a caller sanction and ticker to follow.
KDLY shares are soaring successful premarket action, up 650% to $29 versus Friday's adjacent of $3.90.
Read more: Bitcoin to See Additional $330B of Corporate Treasury Inflows by 2029: Bernstein
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