KindlyMD and Nakamoto Announce $51.5 Million in New PIPE Financing to Support Bitcoin Reserve Program

PANews June 20 news, according to Businesswire, Kindly MD, Inc. (NASDAQ: NAKA), which had previously announced plans to merge with Bitcoin native holding company Nakamoto Holdings Inc., announced that it had completed an additional $51.5 million in private equity public offering financing ("PIPE financing") to support its plan to establish a Bitcoin reserve. So far, KindlyMD has raised approximately $563 million through PIPE financing, and if convertible bonds are included, a total of approximately $763 million has been raised. David Bailey, founder and CEO of Nakamoto, said the company will continue to implement its strategy to raise as much money as possible to buy as much Bitcoin as possible. The net proceeds from PIPE financing will be used by KindlyMD to purchase Bitcoin, as well as for working capital and general corporate purposes.