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KindlyMD and Nakamoto announced an additional $51.5 million PIPE financing to support the Bitcoin reserve program.
PANews, June 20 - According to Businesswire, Kindly MD, Inc. (NASDAQ: NAKA), which previously announced plans to merge with Bitcoin-native holding company Nakamoto Holdings Inc., announced that it completed an additional $51.5 million in private sale public listing financing (“PIPE financing”) to support its plan to establish Bitcoin reserves. To date, KindlyMD has raised approximately $563 million through PIPE financing, and when including Convertible Bonds, it has raised a total of approximately $763 million. Nakamoto founder and CEO David Bailey stated that the company will continue to execute its strategy to raise as much capital as possible to buy as much Bitcoin as possible. The net proceeds from the PIPE financing will be used by KindlyMD to purchase Bitcoin, as well as for operating capital and general corporate purposes.