KindlyMD to Raise $5B Through Equity Sale for Bitcoin Acquisition

What You Need to Know:

KindlyMD, a health-care firm that recently merged with bitcoin treasury company Nakamoto, announced plans to raise up to $5 billion through an equity sale to finance further BTC acquisitions.
NAKA shares dipped 12% to $8.07 amid the ongoing challenges faced by BTC prices.

Detailed Report:

KindlyMD (NAKA), the Nasdaq-listed health-care entity that recently merged with bitcoin treasury firm Nakamoto, has set forth an ambitious plan to offer equity worth $5 billion to bolster its BTC purchase strategy. The Salt Lake City-based company has filed a registration statement with the U.S. Securities and Exchange Commission (SEC) for an at-the-market equity offering program.

This program will enable the firm to sell common stock, with the timing and quantity of sales influenced by market conditions. The funds raised will also support corporate operations, including the acquisition of businesses, assets, or technologies.

Earlier this month, KindlyMD embarked on its treasury strategy by acquiring 5,743.91 BTC (roughly $635.4 million) on or around August 19.

Shares of NAKA experienced a 12% reduction, impacted significantly by fluctuations in the price of BTC, which has fallen more than 10% in recent weeks after reaching highs of over $123,000 earlier this month.

“The company said that the timing and amounts for the sales could vary based on market dynamics.” “La empresa dijo que el momento y las cantidades de las ventas podrían variar según la dinámica del mercado.”