Nakamoto Holdings to Merge with KindlyMD, Shares Surge 650%
KindlyMD Inc. (KDLY) is merging with Nakamoto Holdings, a bitcoin-focused firm, to create a publicly traded BTC treasury vehicle.
- The merger has secured $710 million in financing, the largest capital raise for a bitcoin treasury.
- This includes $510 million via PIPE at $1.12 per share and $200 million in convertible notes.
- Nakamoto's strategy focuses on accumulating bitcoin and enhancing per-share BTC holdings through various financial instruments.
- Over 200 global investors participated in the PIPE, including notable firms like VanEck and Arrington Capital.
- KindlyMD will maintain its healthcare operations under CEO Tim Pickett, while Nakamoto oversees the bitcoin treasury functions.
- The merger awaits shareholder approval and regulatory clearance, with a new name and ticker to be announced.
- KDLY shares increased by 650% in premarket trading to $29 from $3.90.