KindlyMD (NAKA), a Salt Lake Metropolis-based health-care knowledge agency merging with bitcoin-focused holding firm Nakamoto, raised one other $51.5 million for bitcoin
purchases, the businesses announced Friday.
The non-public placement fairness financing spherical, also called PIPE, was priced at $5 per share of frequent inventory in KindlyMD. The financing was totally subscribed in lower than three days, in line with Nakamoto founder and CEO David Bailey.
“We proceed to execute our technique to boost as a lot capital as doable to accumulate as a lot bitcoin as doable,” he mentioned in an announcement.
This fundraising brings the agency’s complete capital increase to round $763 million, together with earlier PIPE financing and convertible notes providing.
NAKA shares fell round 7% within the early Friday session. The Nasdaq Composite index was little modified.
The transfer comes as a rising roster of public corporations increase capital to create crypto treasury methods, harking back to software program agency Technique’s (MSTR) long-running play to problem debt and promote shares for buying digital property. Technique is the most important company bitcoin holder with 592,00 BTC, price over $62 billion, BitcoinTreasuries.net knowledge exhibits.