Nakamoto, KindlyMD Merge to Create Public Bitcoin Treasury
Nakamoto Holdings Inc. and KindlyMD, Inc. are merging to create a publicly traded Bitcoin treasury. The combined company, led by David Bailey as CEO, aims to increase Bitcoin holdings per share and provide transparent exposure to Bitcoin for public market investors.
The merger, backed by a $710 million capital raise, includes a $510 million PIPE financing and $200 million in convertible notes purchased by YA II PN, Ltd. Over 200 investors across six continents, including notable firms and Bitcoin advocates, participated in the PIPE financing. Upon closure, Bailey will lead the combined entity, with Tim Pickett continuing to manage KindlyMD's healthcare operations. The new company will focus on combating the opioid crisis and bringing Bitcoin to the center of global capital markets, packaging it into various equity and debt structures. KindlyMD's shares will trade as 'KDLY' until the finalization of the merger, after which the new company will have a new name and ticker symbol, listed on the Nasdaq under 'NAKA'.
The merger between Nakamoto Holdings Inc. and KindlyMD, Inc. is set to create a significant player in the public markets, offering investors compliant and transparent exposure to Bitcoin. With David Bailey at the helm and a strong investor base, the combined company is poised to increase Bitcoin holdings per share and drive innovation in Bitcoin-related financial products.
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