PANews reported on May 12 that David Bailey and his Bitcoin-native holding company Nakamoto officially announced a merger with healthcare provider KindlyMD (NASDAQ: KDLY), and will establish a public market Bitcoin Treasury through the merger. According to the official press release, this transaction raised a total of $710 million, including $510 million in PIPE financing and $200 million in convertible bonds, marking the largest public crypto trading PIPE financing to date.
David Bailey will serve as the CEO of the merged company and plans to create a global ecosystem centered around Bitcoin, covering media, finance, and consulting services. The company will accumulate Bitcoin through equity, debt, and other financial instruments, enhancing the Bitcoin yield per share. KindlyMD's medical business will continue to be retained, and its shares will still be traded on NASDAQ.
Last week, it was reported that David Bailey, who previously provided cryptocurrency policy advice to Trump, plans to establish a Bitcoin investment company aiming to raise $300 million.
