David Bailey’s Nakamoto Holdings Merges With KindlyMD, Raises $710M for BTC Treasury 

Nakamoto Holdings, the bitcoin-native holdings company founded by President Trump’s crypto advisor David Bailey, has merged with healthcare provider, KindlyMD. The merger will focus on establishing a bitcoin treasury strategy, per the official announcement.

As part of the merger agreement, both companies plan to create the first global network of bitcoin treasury companies. These companies will be geared toward accelerating the mainstream adoption of bitcoin while boosting its utility. 

Notably, Nakamoto’s ultimate vision is to establish an ecosystem of bitcoin-native companies across multiple industries, including media, advisory, and financial services. Meanwhile, KindlyMD will maintain its traditional healthcare operations.

Commenting on the merger, Nakamoto’s CEO David Bailey said,

“Traditional finance and Bitcoin-native markets are converging. The securitization of Bitcoin will redraw the world’s economic map. We believe a future is coming where every balance sheet – public or private – holds Bitcoin… Our mission is simple: list these instruments on every major exchange in the world.”

The combined company will leverage various equity and debt offerings to accumulate BTC and grow its Bitcoin Yield. 

Nakamoto Holdings Raises $710 Million 

The merger deal also includes $510 million raised via a private placement in public equity (PIPE) priced at $1.12 per share. Additionally, the company raised $200 million in senior secured convertible notes maturing in 2028.

The PIPE financing saw notable contributions from over 200 investors across six continents. Notable institutional investors include VanEck, Arrington Capital, and ACTAI Ventures, with individual investors like Blockstream’s Adam Back, Metaplanet’s Simon Gerovich, and Semler Scientific’s Eric Semler, participating in the fundraiser. 

KindlyMD’s CEO, Tim Pickett stated,

“This merger represents a strategic leap for KindlyMD, allowing us to expand our mission. Nakamoto brings in a team with deep expertise in Bitcoin strategy and unparalleled access to the leading experts in Bitcoin treasury management.”

While the boards of directors of both companies have approved the merger, the deal will only be finalized once it receives approval from shareholders. Once the deal is completed, David Bailey will serve as the CEO of the combined company. Additionally, the merged company’s board of directors will consist of seven directors, six of whom will be appointed by Nakamoto and one by KindlyMD.

Meanwhile, after the merger, KindlyMD shares will continue to trade on Nasdaq under the ticker “KDLY.” However, the combined company will be renamed and its shares will trade under a new ticker symbol.

KindlyMD Shares Surge 600%

Following the merger announcement, shares of KindlyMD hit a new all-time high (ATH), surging by over 630%. The stock price jumped from $3.9 to over $31 on Monday. 

Notably, the stock has shed some of the gains. However, it is currently up by over 400% at press time. 

This latest merger represents another addition to the growing number of companies that have adopted a bitcoin treasury strategy, including Strategy, Metaplanet, and Semlar Scientific.

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