The two entities expect to finalize the merger on August 11, 2025, according to a joint press release published on Tuesday.
SEC Receives Merger Proposal From Nakamoto and KindlyMD
Healthcare firm KindlyMD and bitcoin treasury startup Nakamoto Holdings published a press release on Tuesday announcing the formal submission of their merger documentation to the U.S. Securities and Exchange Commission (SEC). The transaction is expected to finalize on Aug. 11, 2025.
The two companies first announced their plans to merge earlier in the year in May, raising a total of $710 million to establish a bitcoin treasury. They touted the transaction as “the largest capital raise to launch a bitcoin treasury.” The deal included a $510 private investment in public equity or “PIPE,” where shares are sold at a discount, and $200 million in convertible notes.
David Bailey, CEO and co-founder of BTC Inc., the firm behind Bitcoin Magazine and the annual Bitcoin Conference, will lead the merged entity, assuming all goes well with the SEC. KindlyMD will continue focusing on its core healthcare business, but will benefit from the bitcoin yield generated by the combined company.
“Filing the definitive information statement is a critical milestone for this merger and accelerates our mission of acquiring one million bitcoin,” Bailey said. “I’m very proud of the teams’ collaboration at Nakamoto and KindlyMD to get us one step closer to closing the merger.”
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