KindlyMD, Inc. (NASDAQ: KDLY), a Utah-based healthcare providers supplier, has entered right into a merger settlement with Nakamoto Holdings Inc., a Bitcoin-native holding firm. The transaction, introduced on Could 12, 2025, consists of $710 million in financing via a mixture of personal placement and convertible notes.
The merger will create a publicly traded firm targeted on establishing a Bitcoin treasury technique, with $510 million raised via personal placement in public fairness (PIPE) at $1.12 per share and $200 million in senior secured convertible notes maturing in 2028.
David Bailey, founding father of BTC Inc. and Nakamoto Holdings, will function CEO of the mixed entity. Tim Pickett will proceed managing KindlyMD’s healthcare operations, which embrace 4 clinics throughout Utah offering built-in medical providers, ache administration, and psychological well being care.
David Bailey, Founder and CEO of Nakamoto stated, “Nakamoto’s imaginative and prescient is to carry Bitcoin to the middle of world capital markets, packaging it into fairness, debt, most well-liked shares, and new hybrid buildings that each investor can perceive and personal. Our mission is straightforward: checklist these devices on each main alternate on the earth.”
He continued, “Nakamoto is constructing the primary publicly traded conglomerate designed to speed up that future. The monetary establishments who outlined their chapter in historical past have all carried the names of their founders: Medici, Rothschild, Morgan, Goldman. At the moment, we stake that legacy on Nakamoto.”
The PIPE financing attracted over 200 traders globally, together with institutional traders equivalent to Actai Ventures, Arrington Capital, BSQ Capital Companions, Kingsway, Off the Chain Capital, ParaFi, RK Capital, Van Eck, and Yorkville Advisors, alongside people together with Adam Again, Balaji Srinivasan, Danny Yang, Eric Semler (CEO of Semler Scientific), Jihan Wu, Ricardo Salinas, and Simon Gerovich (CEO of Metaplanet). YA II PN, Ltd., an funding fund managed by Yorkville Advisors, was the only convertible be aware purchaser.
Beneath the settlement, KindlyMD’s shares will proceed buying and selling on Nasdaq below the image “KDLY” till a brand new ticker image is introduced. The mixed firm’s board will encompass six administrators appointed by Nakamoto and one by KindlyMD.
The transaction consists of the idea of Nakamoto’s advertising providers settlement with BTC Inc., which is able to present advertising providers associated to Bitcoin treasury operations. KindlyMD’s medical operations will preserve their present deal with lowering opioid use via built-in healthcare providers.
The merger requires KindlyMD shareholder approval and is topic to customary closing situations. Further transaction particulars might be obtainable in a Present Report on Type 8-Okay to be filed with the SEC.
BTC Inc, Bitcoin Journal’s guardian firm, is affiliated with Nakamoto via widespread possession. BTC Inc additionally has a contractual relationship with Nakamoto to offer advertising providers.
