KindlyMD announces $5 billion in funding with new Bitcoin merger

KindlyMD, a NASDAQ-listed healthcare services company, has announced plans to raise up to $5 billion through its Market Stock Offering Program (ATM Program) filed with the US Securities and Exchange Commission (SEC).

The Company issues and sells common stock under this program. This gives you the flexibility to raise funds over time.

Bitcoin Financial Strategy

In an official blog post, KindlyMD said that revenues are used for a variety of purposes. Most notably, it supports the Bitcoin financial strategy adopted after the merger with Nakamoto holdings. Beyond this, funds are also directed towards working capital, corporate and technology acquisitions, capital expenditures, and investments in both existing businesses and new projects.

David Bailey, Chief Executive Officer and Chairman of KindlyMD, said the launch of the ATM programme represents a “vital step” in Utah’s long-term capital strategy and was added.

“After the successful completion of the KindlyMD and Nakamoto merger just two weeks ago and the initial purchase of 5,744 Bitcoin, this initiative is the natural next stage in our growth plan. We plan to roll out thoughtfully and systematically.

The company’s stock fell sharply on August 26, down 12% from the end of the previous session at $9.17, closing at $8.07. Stock traded low for most of the day after slipping from its early peak, nearly $9.5, slightly above $7.9 before stabilizing in the afternoon. In pre-market trading, stocks fell another 2.11% to $7.90, indicating continued pressure.

Bitcoin purchases last in weak markets

KindlyMD launched its Bitcoin strategy this month after completing its merger with Nakamoto Holdings. The move follows a plan outlined in May, which will accumulate cryptocurrency and use stock and debt offerings to expand holdings per share, or “bitcoin yields.” Bitcoin Treasuries data now reveals that they now have more BTC than companies like Semler Scientific and GameStop.

Several US listed companies have steadily expanded their BTC reserves this year. This is a trend that KindlyMD currently participates. The latest addition comes when Bitcoin has struggled nearly $110,000, down about 7% over the past month.