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KindlyMD, Inc. (NASDAQ: NAKA) and Bitcoin-centric holding firm Nakamoto Holdings Inc. have formally finalized their eagerly awaited merger, establishing a publicly traded Bitcoin treasury entity with goals to acquire one million BTC. The merged organization will operate under the KindlyMD banner, listed on the Nasdaq Capital Market, while Nakamoto will serve as a fully owned subsidiary supervising the Bitcoin financial services sector.
“Our aspiration is for global capital markets to function under a Bitcoin standard. The merger today marks the outset of that expedition for our enterprise,” remarked David Bailey, CEO of the integrated company. “Since embarking on my Bitcoin journey 13 years ago, I have consistently believed Bitcoin would emerge as the most valuable asset in human history, owned by every individual, corporation, and government. The securitization of Bitcoin illustrates how institutions will embrace it. We plan to propel that momentum forward.”
Tim Pickett, the previous CEO of KindlyMD and now Chief Medical Officer, added: “We are delighted to officially conclude our merger with Nakamoto. We’ve established KindlyMD on operational and innovative excellence, and we are extending that same ethos to our capital strategy. Bitcoin empowers us to maintain value with the same integrity we apply to care provision.”
The deal yielded approximately $540 million in gross proceeds through a private placement in public equity (PIPE) financing, which will primarily fund Bitcoin acquisitions. A $200 million convertible note offering is anticipated to finalize tomorrow.
Bailey will assume the role of CEO and Chairman of the Board, with a bolstered leadership team comprising Amanda Fabiano as COO, Tyler Evans as CIO, and Andrew Creighton as CCO. Newly appointed independent board members include Charles Blackburn, Perianne Boring, Eric Weiss, Greg Xethalis, and Mark Yusko, along with Pickett.
The objective of the merged company’s mission is explicit: to establish a premier, institutional-grade Bitcoin treasury mechanism to promote corporate and governmental acceptance of the asset. By utilizing sophisticated corporate finance methodologies, Nakamoto seeks to streamline Bitcoin integration into worldwide capital markets and position itself as a frontrunner in public market Bitcoin treasury management.
Bailey reaffirmed his dedication on X, declaring: “Privileged to officially join KindlyMD as CEO and Chairman. I appreciate you being on this journey with me — together we will reconstruct the world on the Bitcoin standard. One Nakamoto = One million Bitcoin.”
Disclosure: Nakamoto collaborates with Bitcoin Magazine’s parent company BTC Inc to establish the first global network of Bitcoin treasury firms, with BTC Inc providing specific marketing services to Nakamoto. More details on this can be found here.
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