Kindly MD, Inc. (NASDAQ: NAKA) has announced it has secured an additional $51.5 million in private placement financing to its Bitcoin treasury strategy, as it prepares to merge with Bitcoin-native holding company Nakamoto Holdings Inc.
To date, KindlyMD has raised a total of approximately $563 million in PIPE financing and $763 million including convertible notes, according to the announcement.
“Investor demand for Nakamoto is incredibly strong. This additional financing was raised in under 72 hours, adding the option for more working capital in addition to acquiring bitcoin,” said the Founder and CEO of Nakamoto David Bailey. “We continue to execute our strategy to raise as much capital as possible to acquire as much bitcoin as possible.”
The funding round, priced at $5.00 per share, closed in under 72 hours, signaling strong investor interest. Proceeds will be used to purchase Bitcoin and support working capital and general operations. The financing is set to close at the same time as the merger.
“Our goal is to bring Bitcoin to the center of global capital markets within a compliant, transparent structure,” stated Bailey. “We are excited to partner with Anchorage Digital to implement our vision with the highest levels of security and battle-tested infrastructure and enable us to deliver sustained value to shareholders.”
On May 20, KindlyMD received shareholder approval for its merger with Nakamoto Holdings, getting closer to becoming a major public Bitcoin treasury company. The deal is expected to close in Q3 2025, pending SEC review and shareholder notification.
“This milestone brings us one step closer to unlocking Bitcoin’s potential for KindlyMD shareholders,” Bailey said. “We are grateful that KindlyMD shares our vision for a future in which Bitcoin is a core part of the corporate balance sheet, and investors across global capital markets have exposure to the world’s greatest asset and store of value.”
KindlyMD offers a distinct approach to healthcare, combining data-driven care with a focus on reducing opioid use through personalized treatment and education around alternative medicine. Its services are covered by Medicare, Medicaid, and private insurance.
“We are pleased to achieve this important milestone in the merger process,” stated the CEO of KindlyMD Tim Pickett. “As a combined company, we are excited to leverage Bitcoin’s dominance and real-world utility to strengthen our company and drive sustained long-term value for our investors.”
Disclosure: Nakamoto is in partnership with Bitcoin Magazine’s parent company BTC Inc to build the first global network of Bitcoin treasury companies, where BTC Inc provides certain marketing services to Nakamoto. More information on this can be found here.
