Quick take:
David Bailey, the founder of BTC Inc and UTXO will lead the combined company as CEO.
KindlyMD will continue to trade publicly as KDLY on Nasdaq, which will change when a new name for the company is formed.
Tim Pickett, CEO and founder of KindlyMD, will continue to manage KindlyMD’s healthcare operations.
Healthcare company KindlyMD has announced a merger with Trump’s crypto advisor David Bailey’s bitcoin-native company Nakamoto. The new company also announced a $710 million funding, comprising $510 million in private investment in public equity (PIPE) and a $200 million convertible note.
Shares of KindlyMD (NASDAQ: KDLY) surged more than 600% after the news.
According to the announcement, KindlyMD will continue to trade publicly as KDLY on the Nasdaq, which will change when a new name for the company is formed. Tim Pickett, CEO and founder of KindlyMD, will continue to manage KindlyMD’s healthcare operations.
On the other hand, David Bailey, the founder of BTC Inc. and UTXO will lead the combined company as CEO.
The board of directors will consist of six directors appointed by Nakamoto and one director appointed by KindlyMD, the two companies said in a press releases on Monday.
Nakamoto is teaming up with BTC Inc. to establish the first global network of Bitcoin treasury companies. The company seeks to build an ecosystem of Bitcoin-native companies, including media, advisory, and financial services, all geared towards accelerating Bitcoin adoption and utility.
Some of the targeted vehicles to grow the Bitcoin treasury include accumulating Bitcoin and growing the Bitcoin owned on a per share basis, or Bitcoin Yield through debt and other offerings.
Commenting on the announcement, David Bailey, Founder and CEO of Nakamoto said in a statement: “The securitization of Bitcoin will redraw the world’s economic map. We believe a future is coming where every balance sheet – public or private – holds Bitcoin.”
“Nakamoto’s vision is to bring Bitcoin to the centre of global capital markets, packaging it into equity, debt, preferred shares, and new hybrid structures that every investor can understand and own.”
Tim Pickett, CEO of KindlyMD commented: “This merger represents a strategic leap for KindlyMD, allowing us to expand our mission. Nakamoto brings in a team with deep expertise in Bitcoin strategy and unparalleled access to the leading experts in Bitcoin treasury management.”
Stay on top of things:
Subscribe to our newsletter using this link – we won’t spam!
Follow us on X and Telegram.
The post KindlyMD Merges with David Baily’s New Company Nakamoto to Form Bitcoin Treasury appeared first on NFTgators .
