Health-Care Firm KindlyMD Files for $5 Billion Equity Offering to Acquire Bitcoin
KindlyMD (NAKA) plans to raise up to $5 billion through an at-the-market equity offering program to acquire more bitcoin (BTC). The company filed a shelf registration statement with the U.S. SEC, allowing it to sell common stock based on market conditions.
Key details include:
- The funds will also support general corporate purposes, including acquisitions of businesses and technologies.
- KindlyMD initiated its bitcoin treasury strategy earlier this month, acquiring 5,743.91 BTC (approximately $635.4 million) around August 19.
- NAKA shares fell 12% to $8.07 due to BTC's price decline, which has dropped over 10% from a peak of $123,000 earlier this month.