What to know:
- Health-care data firm KindlyMD raises $51.5M for bitcoin treasury strategy, total capital raise now at $763M.
- KindlyMD merging with bitcoin-focused holding company Nakamoto.
- KindlyMD shares fall 7% early in Friday session.
Oh, the irony! KindlyMD, a Salt Lake City-based health-care data firm merging with bitcoin-focused holding company Nakamoto, raised another $51.5 million for bitcoin purchases, the companies announced Friday. 💸💸💸
The private placement equity financing round, also known as PIPE, was priced at $5 per share of common stock in KindlyMD. The financing was fully subscribed in less than three days, according to Nakamoto founder and CEO David Bailey. 😲
“We continue to execute our strategy to raise as much capital as possible to acquire as much bitcoin as possible,” he said in a statement. 🤑
This fundraising brings the firm’s total capital raise to around $763 million, including previous PIPE financing and convertible notes offering. 💰
NAKA shares fell around 7% in the early Friday session. The Nasdaq Composite index was little changed. 📉
The move comes as a growing roster of public companies raise capital to create crypto treasury strategies, reminiscent of software firm Strategy’s (MSTR) long-running play to issue debt and sell shares for purchasing digital assets. Strategy is the largest corporate bitcoin holder with 592,00 BTC, worth over $62 billion, BitcoinTreasuries.net data shows. 🏆
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2025-06-20 19:04