KindlyMD & Nakamoto Officially Merge, Plans To Buy One Million BTC

KindlyMD, Inc. (NASDAQ: NAKA) and Nakamoto Holdings Inc. have officially completed their merger, forming a publicly traded Bitcoin treasury vehicle with the goal of acquiring one million BTC. The new entity will operate under the KindlyMD name on the Nasdaq Capital Market, with Nakamoto functioning as a wholly owned subsidiary overseeing the Bitcoin financial services division.

David Bailey, CEO of the combined company, expressed his vision for the world’s capital markets to operate on a Bitcoin standard. He stated, “Since I started my journey in Bitcoin 13 years ago, I’ve always believed Bitcoin would become the most valuable asset in human history, held by every person, company, and government. The securitization of Bitcoin has shown us how institutions will adopt it. We intend to drive that forward.”

Tim Pickett, former KindlyMD CEO and now Chief Medical Officer, shared his excitement about the merger, emphasizing the company’s commitment to operational and innovative excellence. He mentioned, “We’ve built KindlyMD on operational and innovative excellence, and we are now extending that same principle to our capital strategy. Bitcoin gives us the ability to preserve value with the same integrity we apply to delivering care.”

The merger generated approximately $540 million in gross proceeds through a private placement in public equity (PIPE) financing, with a $200 million convertible note offering expected to close soon. The funds will primarily be used for Bitcoin purchases.

Under Bailey’s leadership as CEO and Chairman of the Board, the company has appointed a strong leadership team, including Amanda Fabiano as COO, Tyler Evans as CIO, and Andrew Creighton as CCO. The board of directors now includes Charles Blackburn, Perianne Boring, Eric Weiss, Greg Xethalis, and Mark Yusko, alongside Pickett.

The company’s mission is to build an institutional-grade Bitcoin treasury vehicle to drive corporate and government adoption of the asset. By employing advanced corporate finance strategies, Nakamoto aims to simplify Bitcoin integration into global capital markets and establish itself as a leader in public market Bitcoin treasury management.

Bailey reaffirmed his commitment on social media, stating, “Honored to officially join KindlyMD as CEO and Chairman. Thank you for coming on this journey with me — together we will rebuild the world on the bitcoin standard. One Nakamoto = One million Bitcoin.”

It is important to note that Nakamoto is in partnership with Bitcoin Magazine’s parent company BTC Inc to build a global network of Bitcoin treasury companies. BTC Inc provides certain marketing services to Nakamoto. More information on this partnership can be found on their official website.

This exciting merger between KindlyMD and Nakamoto Holdings sets the stage for significant developments in the world of Bitcoin and institutional finance. Investors and industry watchers will be keen to see how this new entity navigates the evolving landscape of digital assets and traditional markets.