Merger Announcement
In a significant development for both the healthcare and cryptocurrency sectors, KindlyMD, a healthcare provider, has officially submitted merger documents to the U.S. Securities and Exchange Commission (SEC) in a collaboration with Nakamoto Holdings, a startup focused on Bitcoin treasury investments. This announcement was made on Tuesday, signaling a landmark step forward as both companies aim to complete their merger on August 11, 2025.
Details of the Merger
Back in May, KindlyMD and Nakamoto revealed their plans to merge, which are highlighted by a noteworthy capital raise of $710 million intended to set up a Bitcoin treasury. This merger is being hailed as potentially the largest capital raise for launching such a treasury, comprising a combination of $510 million from a private investment in public equity (PIPE) and $200 million through convertible debt.
Leadership and Future Plans
Should the SEC approval progress favorably, David Bailey, who is the CEO and co-founder of BTC Inc. – well-known for its ownership of Bitcoin Magazine and the Bitcoin Conference – will take the helm of the merged business. While KindlyMD will maintain its focus on healthcare, it stands to gain from the Bitcoin treasury’s yield that the new entity will produce.
As Bailey stated, reaching the stage of filing the definitive information statement is an essential milestone for the merger. He expressed pride in the collaborative efforts of both KindlyMD and Nakamoto teams in progressing towards their goal of acquiring one million bitcoins, which they believe will significantly enhance their operations and financial strength.
