JUST IN: KindlyMD (NASDAQ: NAKA) has closed a $200 million senior secured convertible note offering—a bold move to supercharge its Bitcoin holdings. The offering marks 0% interest for the next two years, rising to 6% in the third year, with a maturity date of August 15, 2028, and a conversion price set at $2.80 per share.

This follows a recent $540 million PIPE financing secured during its merger with Nakamoto Holdings—bringing the total capital raised in 2025 to approximately $740 million aimed at purchasing Bitcoin and fueling strategic growth.

Naka’s leadership frames this as a pivotal iteration of its Bitcoin treasury strategy, positioning the company as a publicly traded vehicle focused on institutional-grade BTC accumulation. CEO David Bailey underscores investor validation of this approach.

Why It Matters:

Capital Power – $740M in dry powder allows NAKA to sharply scale its Bitcoin reserves.

Investor Confidence – A zero-yield convertible and strong financing amidst market flows reflect trust in their vision.

Market Momentum – As a Bitcoin-focused public entity, NAKA is emerging as a heavyweight in corporate treasury adoption.