KindlyMD, Inc. and Bitcoin-savvy Nakamoto Holdings Inc. have finally wrapped up their long-awaited merger. They’ve come together to form a publicly traded Bitcoin treasure chest, aiming to snag a million BTC. Operating under the KindlyMD name, they’ll be trading on the Nasdaq Capital Market, with Nakamoto sticking around as a fully owned subsidiary focusing on Bitcoin financial services.
“Our big dream is for global capital markets to run on a Bitcoin standard, and this merger is just the first step,” said David Bailey, the new CEO. “Since diving into Bitcoin 13 years ago, I’ve been convinced it would become the most valuable asset ever. With this merger, we’re paving the way for institutions to adopt it.”
Tim Pickett, once CEO of KindlyMD and now Chief Medical Officer, shared his excitement: “Sealing the deal with Nakamoto is a thrill. We’ve always pushed for excellence at KindlyMD, and now we’re applying that same focus to our financial plans. Bitcoin helps us protect value just like we do in providing care.”
The merger tapped roughly $540 million in gross proceeds through PIPE financing, mainly aimed at buying Bitcoins. They’re also set to close a $200 million convertible note tomorrow.
Bailey is taking the lead as CEO and Chairman, with a bolstered team including Amanda Fabiano as COO, Tyler Evans as CIO, and Andrew Creighton as CCO. New independent directors include Charles Blackburn, Perianne Boring, Eric Weiss, Greg Xethalis, and Mark Yusko, in addition to Pickett.
Their mission? To create a top-notch Bitcoin treasury vehicle, boosting adoption by companies and governments alike. Using advanced finance strategies, Nakamoto aims to make Bitcoin integration a breeze in global markets, aspiring to be a front-runner in the public market Bitcoin treasury space.
Bailey shared his enthusiasm on X, noting: “Excited and honored to join KindlyMD as CEO and Chairman. Let’s take this journey together — rebuilding the world on a Bitcoin standard. One Nakamoto equals One million Bitcoin.”
By the way, Nakamoto is teaming up with Bitcoin Magazine’s parent company BTC Inc, crafting the first worldwide network of Bitcoin treasury companies. BTC Inc is helping out with marketing services for Nakamoto. More details are available here.
