KindlyMD, Inc. (NASDAQ: KDLY), a Utah-based healthcare companies supplier, has entered right into a merger settlement with Nakamoto Holdings Inc., a Bitcoin-native holding firm. The transaction, introduced on Might 12, 2025, contains $710 million in financing by means of a mix of personal placement and convertible notes.
The merger will create a publicly traded firm centered on establishing a Bitcoin treasury technique, with $510 million raised by means of non-public 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 embody 4 clinics throughout Utah offering built-in medical companies, ache administration, and psychological well being care.
David Bailey, Founder and CEO of Nakamoto stated, “Nakamoto’s imaginative and prescient is to convey Bitcoin to the middle of worldwide capital markets, packaging it into fairness, debt, most popular shares, and new hybrid constructions 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. In the present day, 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 real convertible word purchaser.
Underneath the settlement, KindlyMD’s shares will proceed buying and selling on Nasdaq beneath 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 contains the idea of Nakamoto’s advertising companies settlement with BTC Inc., which is able to present advertising companies associated to Bitcoin treasury operations. KindlyMD’s scientific operations will keep their present deal with decreasing opioid use by means of built-in healthcare companies.
The merger requires KindlyMD shareholder approval and is topic to customary closing circumstances. Further transaction particulars can be accessible in a Present Report on Kind 8-Okay to be filed with the SEC.
BTC Inc, Bitcoin Journal’s guardian firm, is affiliated with Nakamoto by means of widespread possession. BTC Inc additionally has a contractual relationship with Nakamoto to supply advertising companies.
