 
 
Nasdaq-listed health service provider established by former Trump crypto adviser David Bailey, KindlyMD, on Tuesday filed an automatic shelf registration statement with the Securities and Exchange Commission (SEC) for a $5 billion at-the-market equity offering program to raise funds for more Bitcoin buys.
The Salt Lake City-based company, which recently merged with Nakamoto Holdings and launched a Bitcoin treasury strategy, announced that it will issue up to $5 billion in securities, including common and preferred stock, debt instruments, warrants, rights, and units.
“Bitcoin will serve as our primary treasury reserve asset, and we are focused on accumulating a long-term Bitcoin position,” KindlyMD said in the filing.
Sales under the ATM program will occur at prevailing market prices on the Nasdaq or related prices, with timing and amounts to be determined by the firm. The stock sales will be conducted through multiple sales agents, including TD Securities, Cantor Fitzgerald, B. Riley Securities, as well as Canada’s Canaccord Genuity, among others.
KindlyMD plans to use the funds for general corporate purposes, such as accumulating Bitcoin, acquiring businesses, or investing in projects.
 
“Following the successful completion of our merger between KindlyMD and Nakamoto just two weeks ago and our initial purchase of Bitcoin, this initiative is the natural next phase of our growth plan,” said KindlyMD chair and CEO David Bailey.
KindlyMD launched its Bitcoin treasury strategy earlier this month, making its first acquisition of 5,743.91 BTC, valued at approximately $679 million at the time, on August 19.
The shelf registration with the Securities and Exchange Commission allows KindlyMD to tap the capital markets with more flexibility without requesting separate approvals for each offering.
“It’ll take us a while to build the necessary liquidity to complete the program, but it’ll be a critical tool as we execute our strategy,” Bailey quipped on X.
When questioned about the transparency of KindlyMD’s strategy compared with that of Michael Saylor’s Bitcoin treasury firm Strategy, Bailey explained:
“We want to be world-class at transparency and governance, we have a lot of immediate items that must be prioritized but over the course of the year we will dramatically improve here.”
The firm’s move comes as other publicly traded companies accelerate their Bitcoin treasury strategies. Japanese investment firm Metaplanet recently announced plans to raise 130.3 billion yen ($880 million) through an international share sale to fund its aggressive Bitcoin accumulation strategy of buying 210,000 BTC by 2027.
Bitcoin was recently trading for $112,540, up 1.9% over the past 24 hours, but down a meagre 0.2% over the past week after reaching a fresh all-time high milestone above $124,000 last week.
Source: https://zycrypto.com/nasdaq-listed-healthcare-firm-kindlymd-announces-enormous-5-billion-equity-raise-to-expand-bitcoin-treasury/
