SALT LAKE CITY–(BUSINESS WIRE)–KindlyMD, Inc. (NASDAQ:KDLY), a leading provider of integrated healthcare services, has announced a definitive merger agreement with Nakamoto Holdings Inc., a Bitcoin-native holding company, to establish a Bitcoin treasury strategy. Nakamoto, founded by David Bailey, aims to build the first global network of Bitcoin treasury companies. The combined entity will focus on accumulating Bitcoin and growing its per-share ownership through various financial offerings. This merger offers public market exposure to Bitcoin within a compliant and transparent structure, supported by an experienced Bitcoin management team.
The PIPE financing attracted over 200 investors globally, including prominent institutional investors and individuals influential in the Bitcoin ecosystem. The transaction includes $510 million in gross proceeds from a fully committed private placement priced at $1.12 per share and $200 million from senior secured convertible notes maturing in 2028. Upon closing, the combined company will assume Nakamoto’s rights and obligations under its marketing services agreement with BTC Inc.
David Bailey, Founder and CEO of Nakamoto, emphasized the convergence of traditional finance and Bitcoin-native markets, aiming to redraw the world’s economic map. Tim Pickett, CEO of KindlyMD, highlighted the strategic leap this merger represents for expanding their mission.
The transaction requires approval from KindlyMD shareholders and is subject to customary closing conditions.
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